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CNH Profits Soar

CNH Global reported its profit rose six-fold in the fourth quarter, beating Wall Street expectations, due largely to an income tax benefit of $136 million.

January 31, 2011

CNH Global reported its profit rose six-fold in the fourth quarter, beating Wall Street expectations, due largely to an income tax benefit of $136 million. Its shares dropped 6 percent.

The agricultural and construction equipment company earned $209 million, or 87 cents per diluted share, in the quarter ended Dec. 31, compared with $28 million, or 12 cents per share a year earlier. Analysts polled by Zacks Investment Research were expecting earnings per share of 45 cents.

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--Medill Reports

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