Cummins' third-quarter revenue rose 34.4% year-on-year
Cummins's third-quarter revenue rose 34.4% year-on-year, from $2.53 billion in the same period in 2009 to $3.4 billion.
In the first nine months of 2010, Cummins’ revenue reached US$9.1 billion, up 22.8% from US$7.4 billion in the same period of 2009.
In the third quarter, Cummins’s engine business revenue increased from US$1.27 billion in the same period in 2009 to US$1.73 billion, and generator business revenue rose from US$440 million in 2009 to US$560 million.
Cummins’ gross profit for the third quarter rose from US$500 million (margin rate of 19.9%) in the same period of 2009 to US$8.3 billion (gross profit rate of 24.4%). In the first nine months of 2010, Cummins’ gross profit increased from US$1.4 billion (18.9%) in the same period in 2009 to US$2.18 billion (margin rate was 24%).
Cummins Chairman and CEO Tim Solso said: "Given its operating results so far in 2010, Cummins has raised its full-year revenue forecast for 2010 to US$13 billion."
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