Cummins announces first quarter results

Cummins Inc. reported first quarter revenue of $4.4 billion increased 12 percent from the same quarter in 2013.

The company attributed the year-over-year increase to stronger demand in on-highway markets and distributor acquisitions in North America.

Revenues in North America increased 25 percent while international sales were flat compared to the first quarter a year ago. Within international markets, weakness in India, Australia,

Mexico and Brazil offset higher revenues in China and Europe.

Earnings before interest and taxes were $528 million for the first quarter or 12 percent of sales. This compares to $437 million or 11.1 percent of sales a year ago.

Net income attributable to Cummins in the first quarter was $338 million ($1.83 per diluted share), compared to $282 million ($1.49 per diluted share) in the first quarter of 2013.

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