CHICAGO (Reuters) - Caterpillar Inc on Thursday reported a higher quarterly net profit despite a dip in revenue, citing a boost from the strong U.S. dollar on imported goods, especially from Japan, and a pre-tax gain from the sale of a third-party logistics business.
The world's largest construction and mining equipment maker reported first-quarter net income of $1.11 billion or $1.81 per share, up 20 percent from $922 million or $1.44 per share a year earlier. Excluding restructuring costs, earnings per share totaled $1.86.
Analysts had expected earnings per share for the quarter of $1.35.
(Reporting By Nick Carey; Editing by Alden Bentley)
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