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CAT FINANCIAL ANNOUNCES RECORD PROFIT, REVENUES, AND NEW BUSINESS FOR THIRD QUARTER 1992

 CAT FINANCIAL ANNOUNCES RECORD PROFIT, REVENUES,
 AND NEW BUSINESS FOR THIRD QUARTER 1992
 PEORIA, Ill., Oct. 22 /PRNewswire/ -- Caterpillar Financial Services Corporation today reported record profit, revenues, and new business volume for the third quarter of 1992.
 Profit after tax was $9.9 million, a $3.0 million or 43 percent increase compared with the third quarter of 1991. The increase in profit resulted primarily from a larger portfolio of earning assets and lower cost of funds. In addition, profit in the third quarter of 1991 was adversely affected by costs of relocating corporate headquarters to Nashville, Tenn.
 Revenues were $87.5 million, a $7.2 million or 9 percent increase over the third quarter of 1991. The increase in revenues resulted primarily from a larger portfolio.
 New business financed was $421.1 million, a $117.4 million or 39 percent increase compared with the same period one year ago. The increase was substantially due to new financing activity in Germany.
 Past dues over 30 days decreased to 3.2 percent compared with 4.0 percent at the end of the third quarter 1991. Bad debt write-offs during the quarter were $2.1 million compared with $2.9 million for a similar period one year ago.
 "Our third quarter was very encouraging -- our best ever for profit, revenues, and new business," said James S. Beard, vice president of Caterpillar Inc. and president of Caterpillar Financial Services Corporation. "Our employees' commitment to customer service, collections, and cost control made these excellent results possible."
 Caterpillar Financial Services Corporation, a wholly owned subsidiary of Caterpillar Inc. (NYSE: CAT), provides installment sale contract, lease, and governmental lease-purchase financing for Caterpillar earthmoving and construction equipment, engines, and turbines; materials handling machinery manufactured by Mitsubishi Caterpillar Forklift distributed through Cat dealers; and non- competitive related products. The company also extends loans to Cat customers and dealers.
 Caterpillar Financial Services Corporation and its subsidiaries are located in North America, Australia, and Europe. Company headquarters are in Nashville, Tenn.
 CATERPILLAR FINANCIAL SERVICES CORPORATION
 Statistical Highlights:
 (Dollar amounts in millions)
 Third quarter ended Sept. 30: 1992 1991 Pct. chg.
 Revenues $ 87.5 $ 80.3 9
 Profit $ 9.9 $ 6.9 43
 First nine months
 ended Sept. 30 1992 1991 Pct. chg.
 Revenues $ 254.6 $ 233.9 9
 Profit $ 25.9 $ 21.8 19
 New Business Financed $1,104.3 $ 928.0 19
 Assets $2,750.3 $2,410.8 14
 Portfolio Value $2,707.4 $2,361.4 15
 -0- 10/22/92
 /CONTACT: Richard Stober, public information of Caterpillar, 309-675-5548/
 (CAT) CO: Caterpillar Inc. ST: Tennessee IN: FIN SU: ERN


TS -- NY048 -- 3420 10/22/92 10:18 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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