Cummins’ Fourth-Quarter Profit Jumps to $270 Million

Diesel engine maker Cummins Inc. said Tuesday its profit jumped in the fourth quarter due in part to strong sales in China, India and Brazil.

The company’s net income grew to $270 million, or $1.36 cents a share, from $43 million, or 22 cents, a year ago. Sales rose 3% to $3.4 billion.

The engine segment saw a 12% increase in sales to $2.17 billion. Sales from joint ventures grew 31% to $67 million.

Sales results were driven in part by an increase in demand for truck engines and components related to the 2010 Environmental Protection Agency emissions standards, Cummins said.

“Given the extraordinarily challenging economic climate throughout much of the year, we are extremely pleased with our financial results for both the fourth quarter and all of 2009,” said Chief Executive Officer Tim Solso.

For the full 2009 year, income fell to $428 million, or $2.16 per share, from $755 million, or $3.84, in 2008. Sales in that period fell to $10.8 million, compared with $14.3 billion the previous year.