Cummins Inc. (CMI) reported that its fourth-quarter net income attributable to the company increased to $270 million or $1.36 per share from $43 million or $0.22 per share, a year ago.
Net sales were $3.40 billion, up 3% from $3.29 billion in the fourth quarter 2008. Analysts polled by Thomson Reuters expected the company to report revenues of $2.83 billion for the quarter. Analysts' estimates typically exclude special items.
Cummins expects 2010 sales and earnings to be similar to its 2009 performance. The Company's current full-year guidance calls for sales of $11 billion for the year, with an EBIT of 7% of sales. Analysts expect the company to report earnings of $1.98 per share on revenues of $10.23 billion for fiscal 2010.
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