Net Profit of Cummins down 38% in Q1
2013-05-06 Source：www.chinabuses.org
www.chinabuses.org:
Cummins released their financial reports in Q1, and their profits decreased in the first season.
Cummins sales revenues were 3.9 billion USD, down 12% over last year, and their sales decreased in all their markets.
Cunnins Presidnt and CEO Tom Linebarger said that the sales are the same as their expectations, and they deem the sales in Q1 will be the lowest in 2013.
Sales of engines decreased by 29%, and parts decreased by 7%, electricity business decreased by 4% over last year.
The net profits for Cummins were 282 million USD, down 38% over last year.
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