British-Columbia-based Caterpillar distributor, Finning International, reported its fourth-quarter (Q4) 2011 revenue increased 35% to a record $1.8 billion, driven by highest-ever new equipment sales in each region and record product-support revenues.
Consolidated earnings before interest and income taxes (EBIT) grew by 28% to $107 million, led by best-ever results from South America. The company generated $281 million in free cash flow in Q4 2011, and the net debt to capital ratio was 42.0% at year end.
Order intake exceeded Q3 2011 by 26%. Record deliveries in each region in the fourth quarter reduced the backlog to $1.5 billion at the end of 2011 compared to $1.8 billion at the end of Q3 2011.
For the complete results: View Q4 Results