Cummins’ Profit Rises in Fourth Quarter

Diesel engine maker Cummins Inc. said Friday its fourth-quarter profit rose to $198 million, or $1 a share, from $189 million or 94 cents, a year ago.

Sales jumped 15.9% to a $3.52 billion, the company said in a statement.

The results, which Cummins said were a record for sales and profits, “came despite the expected significant drop in the North American heavy-duty truck market as a result of emissions changes that took effect Jan. 1,” it said in a statement.

The engine segment’s sales rose 10% to $2.16 billion, a quarterly record, Cummins said.

Cummins said it expects 2008 sales to rise 12%.

Full-year earnings rose to $739 million, or $3.70 per share, from $715 million, or $3.55, in 2006. Revenue rose to $13 billion, from $11.4 billion.