Caterpillar Profits Surge Despite Strike

Caterpillar Inc. reported Thursday that fourth-quarter profits surged 134 percent, despite the continuation of a strike by the United Auto Workers.

The company earned $279 million, or $1.38 a share, in the three months ended Dec. 31, vs. $119 million, or 58 cents a share, in the same period a year earlier. Revenues rose 24 percent to $3.93 billion from $3.17 billion.

For the full year, profits rose to a record $955 million, or $4.70 per share, from $652 million, or $3.21 per share, in 1993.