Cummins reports 32 per cent gain in sales
By IBI Magazine
Cummins Inc. reported sales of US$3.21bn for its second quarter, a 32 per cent gain compared to the same period a year ago. Net income rose to US$246m compared to US$56m a year ago. Sales in its Engine Segment, which includes marine, rose by 45 per cent to US$1.9bn. Most of the sales gains came from on-highway sales, light-duty auto, RV, and industrial sales. A company statement did not mention marine sales. Sales outside the US rose by more than half for the quarter, accounting for 64 per cent of companywide revenue. "We continue to benefit from our leadership position in large and growing international markets such as China, India and Brazil," said CEO Tim Solso in the statement.
(28 July 2010)
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