Cummins Reports Higher Income, Revenue in First Quarter
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Cummins’ heavy-duty truck engine revenue rose 47% from last year, and the company also said it reduced its debt in the quarter by $259 million.
iesel engine maker Cummins Inc. said Thursday it posted net income of $97 million or $1.96 a share, a rise from $33 million or 76 cents for the same period a year earlier.
Net sales rose 25% to $2.2 billion.
Cummins also said it raised its profit forecast for 2005 to a range of $9 to $9.20 a share, from a previously projected $8 to $8.30.
