|
"The
ISL
is
one
of
the
fastest-growing
engines
in
popularity
among
diesel
motorhome
owners
because
it
delivers
outstanding
performance."
|
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Cummins
-
record
sales
for
the
3rd
consecutive
year
|
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Cummins
reported
on
January
29,
2007
record
sales
and
earnings
for
the
fourth
quarter
and
all
of
2006,
marking
the
third
consecutive
year
of
record
financial
performance
for
the
Company.
Cummins
eclipsed
$3
billion
in
quarterly
sales
for
the
first
time
during
the
fourth
quarter.
All
four
of
the
Company's
operating
segments
posted
record
revenues,
and
Cummins'
Power
Generation
and
Distribution
businesses
reported
record
Segment
EBIT
in
the
fourth
quarter,
as
well
as
for
the
entire
year.
For
the
full
year,
Cummins
reported
sales
of
$11.36
billion,
up
15
percent
from
$9.92
billion
in
2005.
Earnings
Before
Interest
and
Taxes
(EBIT)
of
$1.18
billion
(10.4
percent
of
sales)
increased
30
percent
over
$907
million
(9.1
percent
of
sales)
in
2005.
Net
earnings
rose
30
percent
to
$715
million,
or
$14.21
per
diluted
share,
from
$550
million,
or
$11.01
per
diluted
share,
the
previous
year.
In
the
fourth
quarter,
Cummins
reported
sales
of
$3.03
billion,
a
10
percent
increase
from
$2.75
billion
in
the
same
period
in
2005.
EBIT
rose
13
percent
to
$303
million
(10.0
percent
of
sales),
from
$269
million
(9.8
percent
of
sales).
Net
earnings
in
the
fourth
quarter
increased
13
percent
to
$189
million,
or
$3.75
per
diluted
share,
from
$167
million,
or
$3.31
per
diluted
share,
in
the
fourth
quarter
of
2005.
Gross
margin
for
the
quarter
was
22.1
percent,
down
slightly
from
22.5
percent
for
the
fourth
quarter
of
2005.
During
the
fourth
quarter
Cummins
announced
plans
to
enter
the
light-duty
diesel
market
in
both
the
United
States
and
China.
The
Company
announced
that
its
Columbus
(Indiana)
Engine
Plant
will
be
the
home
of
its
U.S. -
based
light-duty
program
that
will
add
at
least
600
jobs
by
the
end
of
the
decade.
Cummins
also
announced
a
joint
venture
to
make
2.8
and
3.8-liter
engines
in
China
with
Beiqi
Foton
Motor
Company
in
Beijing.
The
engines,
scheduled
to
go
into
production
in
2008,
will
be
used
in
light-duty
commercial
trucks,
pickups
and
sport
utility
vehicles
and
certain
industrial
applications.
|
Other Cummins items on RoTi:
|
What
do
you
think?
Add
your
comments
below
...
Read
full
press
release
here
Latest
RVing
news
headlines
RV
business
blog
|
Readers
comments:
Dexter
:
Interesting to read in the press release that Cummins has signed an agreement to start building engines in China beginning 2008. Despite that, they say they will add 600 jobs in the US. Business must be really great for Cummins right now.
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