LAKE FOREST, Ill., July 24 (Reuters) - CNH Global NV , the world's largest maker of tractors and combines, on Wednesday reported a higher quarterly profit as increased sales in Western Europe and Latin America offset lower sales in North America.
Net income rose to $39 million, or 11 cents a share, from $6 million, or 2 cents, in the same period a year ago. Consolidated revenue rose to $2.71 billion from $2.69 billion.
The analysts' consensus estimate was 12 cents per share, with a range of 10 cents to 15 cents, according to Thomson First Call.
Lake Forest, Illinois-based CNH, which is 85 percent-owned by Italian auto giant Fiat SpA , last month said it expected to post a small profit in 2002, helped by cost savings from a 1999 merger and an upturn in the agricultural machinery market. CNH posted a net loss of $332 million last year.
Shares of CNH closed Tuesday at $3.14, near an all-time low.