Cummins sales reached $18 billion in 2011

Cummins announced the company’s 2011 sales, profit, and cash flow in 2011 and its best performance in the fourth quarter of 2011. The data shows that the company's annual sales in 2011 reached 18 billion US dollars, the highest level in history.

In the fourth quarter of 2011, Cummins’ sales revenue increased by 19% year-on-year to US$4.9 billion, refreshing the company’s quarterly sales record again. The gratifying growth has benefited from the soaring market demand in North American trucks, construction machinery, electricity, and oil and gas fields. In the global mining market, the company's performance also has a strong growth. The impressive results of the above markets have made up for the decline in demand for the Chinese construction machinery market and the Indian electricity market.

Cummins achieved a net income of $548 million in the fourth quarter of 2011. Excluding the light engine filtration system business transaction income and the previously announced insurance claims related to flooding in Indiana in 2008, the company’s actual net income was US$491 million. The quarterly tax rate was 22.8%. In the fourth quarter, Cummins realized an EBIT of 7.68. One hundred million U.S. dollars. Excluding the above-mentioned special items, the pre-tax income was US$677 million, accounting for 13.8% of sales, which was a year-on-year increase of 25%.

For the full year of 2011, Cummins’ sales revenue reached US$18 billion, a sharp increase of 36% over 2010, thanks to strong growth in most regional markets. The company achieved a net income of 1.85 billion U.S. dollars for the full year and a net income of 1.04 billion U.S. dollars in 2010. Excluding the spin-off of the two business activities of the Parts and Components Division and the flood insurance claims, Cummins’ actual net income for the year reached US$1.75 billion, and the annual tax rate was 26.3%.

Excluding special items, the company’s pre-tax income for the year was US$2.56 billion, which was 14.2% of sales. The figures for 2010 are 1.66 billion and 12.5% ​​respectively.

“Despite experiencing some regional economic uncertainties, 2011 was still the best year in Cummins history.” Tom Linebarger, chairman and chief executive officer of Cummins, said, “We are in the US market and internationally. The markets achieved a year-on-year growth of 53% and 27%, respectively, and in 2011, we set new records in North America, Brazil, China, India, and other important markets.

Based on the current forecast, Cummins is expected to achieve a 10% sales growth in 2012, and the EBIT is expected to be 14.5% to 15%. The company plans to achieve a sales revenue of 30 billion U.S. dollars and an EBIT of 18% by 2015.