Caterpillar (CAT) Says January Sales Strong

Caterpillar (NYSE:CAT) said in a filing Friday that global demand for heavy mining and construction equipment remains strong, with January sales growing at a 49 percent pace.

Sales are being led by machinery demand in North America, which is growing at a pace of 58 percent, and in Latin American which is right behind at 56 percent.

Global machinery sales were up overall for January by 49 percent.

Also doing well for the month was engine sales, which advanced at a 23 percent rate.

Last quarter sales rose to $12.8 billion, a 62 percent jump, while net income surged to $968 million.

Caterpillar was trading at $104.99, up $1.63, or 1.58 percent, as of 11:58 AM EST.