Caterpillar Has Mixed Second Quarter

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(Peoria, IL) -- The last quarter was a mixed bag for Caterpillar, with profits up and sales down. The second-quarter report released today showed a per-share profit of a dollar-57, up 12-cents from the first quarter. Revenues though were reported at 14-point-one-billion-dollars, down from 14-point-six-billion last year. The company cites slow sales of mining equipment, especially in China, as the reason for the decline in revenue.