Tom Strickland/Bloomberg News
Cummins Inc. reported higher fourth-quarter profit than the same period a year ago as sales increased in North America and Europe.
Net income attributable to Cummins increased to $432 million in the quarter, or $2.33 a share, from $369 million, or $1.96, a year earlier, Cummins said Feb. 6. Net sales rose to $4.6 billion from $4.3 billion.
For the full year, profit fell to $1.5 billion from $1.6 billion as revenue was unchanged at $17.3 billion.
“We faced weak demand in important regions and end markets in 2013,” Cummins Chairman and CEO Tom Linebarger said in a statement. “Revenues for the year ended flat with 2012 as strong growth in the components business, market share gains in the North American medium-duty truck market and distributor acquisitions offset weakness in global mining markets, international power generation and the North American heavy-duty truck market.”