IRVING, Texas (AP) _ Caterpillar Inc. (CAT) on Tuesday reported fourth-quarter net income of $1.45 billion.

The Irving, Texas-based company said it had profit of $2.79 per share. Earnings, adjusted for one-time gains and costs, were $3.86 per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.95 per share.

The construction equipment company posted revenue of $16.6 billion in the period, which topped Street forecasts. Eight analysts surveyed by Zacks expected $15.89 billion.

Caterpillar shares have risen 9% since the beginning of the year, while the S&P's 500 index has risen almost 5%. The stock has increased 30% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT

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