January 30, 2006 9:20 AM, EST

Cummins Reports Record 4Q on Higher Engine Sales

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iesel engine maker Cummins Inc. reported a record fourth-quarter profit on Monday, earning $$167 million or $3.31 per share, up 40% from $119 million or $2.41 a year earlier.

For the year, Cummins earned $550 million or $11.01 a share, also a record, up 57% from $350 million or $7.39 a share in 2004.

The earnings exceeded Cummins’ guidance for the full year of $10.70 to $10.80 per share, and fourth-quarter guidance of $3 to $3.10 per share.

The fourth-quarter earnings included a $13.5 million tax benefit, the company said.

Fourth-quarter sales rose 17% to a record $2.75 billion, while sales for the year increased 18% to $9.92 billion.

Engine-segment sales were $1.84 billion for the quarter, up 22% over the previous 4Q.

Global shipments to the heavy-duty truck market rose 12% for the quarter, while medium-duty truck and bus market shipments rose 13%, Cummins said.