Caterpillar’s 2Q Profit Tops $1 Billion

Heavy equipment maker Caterpillar Inc. said Friday its second-quarter profit jumped 44% on higher sales, despite extra expenses from the company's acquisition of Bucyrus.

Net income jumped to $1.02 billion, or $1.52 a share, from $707 million, or $1.09, a year earlier, Caterpillar said in a statement. Sales rose 37% to $14.2 billion from $10.4 billion.

Caterpillar, which formerly made diesel truck engines, said in 2008 it was pulling out of the North American Class 8 truck engine market except for a truck and engine in partnership with Navistar International Corp.