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Aug 2, 2013

ENGINE MAKERS NEWS * USA

* Indiana - Cummins earnings fall 12% as engine sales drop

Columbus,IND,USA -MarketWatch, by Billy Crosby -July 30, 2013: -- Cummins Inc.'s second-quarter earnings fell 12% as the supplier of engines for heavy-duty trucks reported weaker margins, offsetting a slight increase in sales... Results beat expectations... Cummins unveiled cost-cutting measures several months ago, pointing to a weakening global economy that it said was driving down demand for its engines. The company described a particularly sharp contraction in the North American commercial truck market--where Cummins is the largest supplier of engines for heavy-duty trucks--saying trucking companies have been throttling back on their purchases because of uncertainty about freight volumes and the strength of the U.S. economy... Net sales edged up 1.6% to $4.53 billion. Sales rose 7% in North America and declined 4% in its international markets, due to weaker demand in Europe, India, and Mexico...

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