Cummins reports growth
Cummins has announced the fourth-quarter (Q4) results for 2013, reporting a 7 per cent increase in Q4 revenue and a flat full year revenue year-over-year. The company attributes the year-over-year increase to higher revenues in North America, China and Brazil partially offset by weaker sales in Mexico, India and Australia. Earnings before interest and taxes (EBIT) were $566 million for the Q4 (12.3 per cent of sales). This compares to $532 million (12.4 per cent of sales) in 2012, excluding restructuring costs. Revenues for the full year were $17.3 billion, flat with 2012. Revenues in North America increased 3 per cent but were offset by decline in international sales.