CAT results down overall but some good news

Caterpillar's fourth quarter 2013 sales and revenue down.

The construction equipment manufacturer reported sales and revenues of $14.4bn in the fourth quarter of 2013, down from $16bn in the same period of 2012 - a drop of 10%.

Full year figures for sales and revenues were $55.6bn, a 16% decrease from the $65.8bn recorded over the previous 12 months. According to CAT, the downturn was mainly driven by a sharp drop in sales of relatively high-margin mining products.

However, CAT also offered some positive news to shareholders, through its Construction Industries and Power Systems segments - the latter delivering profits close to its 2012 record.  The company also saw record profits last year in its Financial Products division.