Auto Service World
News   July 26, 2004   by Auto Service World

Cummins Report Rise in Profits and Sales

Cummins, the maker of diesel engines, reports that its net income for the second quarter was $82 million U.S. or $1.76 U.S. per share, compared with $14 million U.S. or 34 cents U.S. a year earlier.
Total sales reached a record $2.12 billion, a 38 percent increase from the second quarter of 2003, the company said in a statement. All figures in U.S. dollars.
Cummins said engine sales rose 57% to $1.4 billion, led by higher sales in North America for heavy-duty truck engines. Its share of the North American heavy-duty truck engine market rose more than five percentage points in first five months of the year to 26.8%, the company said.
The company also raised its earnings guidance for the full year to $5.55 to $5.75 a share, from $4.40 to $4.60.

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