Caterpillar is reporting record-breaking sales and profit for 2011. Sales and revenues increased 41-percent from 2010 to more than 60-billion dollars. The company reported net income of nearly five billion dollars, or $7.40 per share. That’s up from 2.7 billion, or $4.15 per share in 2010. The company’s President and CEO Doug Oberhelman says the 2011 growth in sales and revenues was the largest percentage increase in any year since 1947, and was driven by demand for products outside the U.S.

Fourth quarter results in 2011 also broke records. Caterpillar’s profit was $1.55 billion, or $2.32 per share, up from $968 million, or $1.47 per share. Sales and revenue jumped 24 percent to $17.24 billion. The company also raised its outlook for 2012. Sales and revenues is expected to be in a range of 68 to 72 billion dollars and profit per share is estimated to be about $9.25.