CORRECT: Caterpillar: Global Dealer Sales Down 39% In 3 Months To April

Caterpillar Inc. (CAT) said Wednesday that global machinery sales through retailers continued to weaken, down 39% in the three months to end April compared with year-ago data. North American sales slid 51% fall from a year ago in the three-month rolling average of sales compared to 41% in the period to March 31.

The trend in Asia Pacific was flat, down 21%, while sales to Europe, Middle East and Africa slipped 47% compared with a 44% fall in the prior period.

Global machinery sales, including its Cat Japan joint venture, were off 39% in the quarter to April 30 compared with 34% in the period to March 31 and 28% in the three months to end-February.

Sales of engines to dealers and manufacturers were down 9% in the April quarter, compared with a 2$ decline in the period to March 31. Truck and bus engines suffered the sharpest fall, down 69%, but the positive trend in sales to the marine and oil and gas sectors intensified in the period to April 30.

Caterpillar shares were recently up 2.8% at $38.73.

Sales growth in Asia-Pacific, up 16% in the October period, slowed to just 5% in the November timeframe. Latin American sales growth declined to 18% from 35% a month earlier. North America was the only region to report a sequential improvement, with a decline of 11% compared with a 12% drop the previous month. Caterpillar shares recently fell 45 cents, or 1%, to $44.19. Caterpillar Inc. (CAT

-By Doug Cameron, Dow Jones Newswires; 312-750-4135; [e-mail]