CNH Reports Record Second Quarter Net Income of $347 Million, Up 52%, Highest Quarterly Results...

BURR RIDGE, IL, July 23 / MARKET WIRE/ -- CNH Global NV (NYSE: CNH): -- Robust agricultural industry sales and market share gains drove net sales of equipment to $5.3 billion, up 29% -- Pricing actions offset higher input costs, primarily steel -- Agricultural Equipment Gross Margin improved -- Construction Equipment revenues up almost 50% in Latin America and Rest-of-World more than offsetting soft markets in North America and Western Europe -- Revenue growth and cost discipline contributed to record Equipment Operations Operating Margin of 11.1% -- Financial Services net income up 21% -- Full year 2008 financial outlook tightened, with expected range of diluted EPS before restructuring, after tax, forecasted to be $3.40 to Robust sales growth in the agricultural equipment business combined with favorable product sales mix... [read full story]