Cummins gains momentum in the first quarter of 2006
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Cummins Inc. recently announced that, driven by the overwhelming growth of the vast majority of end markets and product lines, the company’s performance in the first quarter was encouraging, achieving sales of US$2.68 billion, up 21% from the same period last year, and net income soaring by 39 percentage points.
Tim Solso, chairman and chief executive officer of Cummins Inc., said: “In 2005, Cummins’ operating metrics hit a record high, and we are confident that we will achieve another record in 2006. The excellent performance in the first quarter of this year shows that we are The goal is making big strides. The excellent performance of Cummins in this quarter has once again confirmed our superior position in the overall product line and global market.â€
Su Zhiqiang further stated: "Cummins's product lines and business scope are more diversified and its ability to withstand the cyclical fluctuations in the market is also growing. The continuous improvement of business performance and the further enhancement of financial performance show that Cummins has been fully prepared. Can continue to maintain the leading position in the future competition."
Compared with the same period of 2005, the four major business divisions of Cummins have performed well. Among them, the performance of the engine division has been particularly prominent. The sales of the electric power division and the distribution division have also shown strong growth, while the parts and components division has continuously increased its revenue. Continue to strengthen R&D investment and develop key technologies for future emission regulations
First quarter operating performance details
Engine Division
The engine division's sales in the first quarter increased by 23% to 1.82 billion US dollars. Compared with the same period of last year, worldwide heavy truck engine shipments increased by 22%, passenger car engines increased by 35%, construction machinery engines increased by 29%, and global light vehicle engine deliveries increased by 36%. .
Electric Power Division
The Power Division achieved sales of US$ 536 million in the first quarter, an increase of 26% from the same period last year. Among them, the sales of commercial generators that accounted for more than half of the electric power business units rose by as much as 32%. Consumer generators also achieved a 14% increase. Compared with the same period of last year, sales of power electronics products soared 53%.
Distribution Division
The distribution division’s quarterly sales amounted to US$317 million, a 25% increase over the same period of 2005, which was second only to the fourth quarter of 2005, when it set a record high. Sales of the entire product line of the division grew strongly, with sales of generator sets increasing by 27% and sales of parts up by 20%.
Parts Business Department
The Components Division, which consists of filtration, turbocharging, fuel, and emissions processing systems, saw sales increase by 17% this quarter, reaching US$555 million.
The Components Business Unit continues to increase research and development efforts to develop new products that meet the US EPA 2007 and future emission standards.
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