The Illinois-based and internationally-focused company cited focused cost management for recorded profit of $US1.14 billion, a 44% spike from $792 million during the same period last year.

Sales and revenue were up 41% to $15.7 billion from $11.34 billion during the same period in 2010.

Cat, which acquired original equipment manufacturer Bucyrus in an $8.8 billion deal in July, reported some figures for the third quarter both with and without the impacts of the takeover.

From a profit perspective, excluding the impacts of purchase, the company’s profit was up 58% year-on-year while sales and revenues totalled $14.58 billion, a 31% rise from the third quarter of 2010.

“I am pleased with how we’re performing and optimistic about demand for our products and that is why we are moving forward with needed investment in our business to support our long-term growth opportunities,” chairman and chief executive officer Doug Oberhelman said.

“This was the best quarter for sales in our history and our order backlog is at an all-time high. Excluding Bucyrus impacts, this was also our best profit quarter in history and year-to-date operating profit as a per cent of sales was higher than any full year in more than three decades.”

Looking ahead to its year-end results, officials projected 2011 sales and revenues should total about $58 billion, on the higher end of its previous outlook range of $56 to $58 billion – adding to this is about $2 billion in anticipated Bucyrus sales.

“Although there is a good deal of economic and political uncertainty in the world, we are not seeing it much in our business at this point. We believe continued economic recovery, albeit a slow recovery, is the most likely scenario as we move forward,” Oberhelman said.

“2011 has been an outstanding year for Caterpillar and we are on pace for all-time record sales and profit.”

In its preliminary projections for 2012, Cat said it was basing sales and revenue performance on an “improving, but slow, growth” in the world’s developed regions along with continued sales improvements from currently low levels.

Next year’s growth should be similar to 2011, which boded well for higher sales.

“We expect sales and revenues to improve 10 to 20 per cent from the 2011 outlook of about $58 billion,” he said, adding its outlook for next year included a full year of Bucyrus-related sales expected to total $5 billion.

“We’re having a great year in 2011 and 2012 is shaping up to be better. Our leadership team is working on plans for next year and it looks like 2012 will see improvements in sales and revenues across our businesses.”