Caterpillar warned in 2013 that things would get weak and they were right. The company posted profits which topped Wall Street forecasts, but revenue and annual net income dropped significantly. Looking ahead, Caterpillar says its 2014 fiscal year numbers will not be as bad as they initially feared. The industrial giant is getting hurt in the mining equipment side of the business, which is off since the price for metals has dropped. Mining equipment carried the company through the recession but the company is facing some challenges. TheStreet’s Debra Borchardt has details from Wall Street.
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