Caterpillar Inc. reported a first-quarter loss compared with a year-ago profit. The loss was Caterpillar's first since 1992. Caterpillar posted a loss of US$112 million in the quarter ended in March. During the same period a year earlier, the company earned $922 million. Quarterly revenue dropped 22% to $9.22 billion.
The company also cut its 2009 profit forecast. It now expects profit of about $1.25 per share on revenue of about $35 billion, down from an earlier projection of $2.50 per share on revenue of $40 billion.
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