Diesel engine and generator supplier Cummins Inc. reported a marginal fourth quarter profit despite sharply lower sales revenue to the light duty auto/RV sector.
The Columbus, Ind.-based company earned $3 million during the three months ended Dec. 31, compared with a $120 million net loss a year earlier.
During all of 2001, Cummins lost a total of $102 million, compared with a net profit of $8 million earned during 2000.
The company’s sales revenue from the light duty auto/RV sector declined 26% during the fourth quarter to $139 million, primarily due to the Dodge Ram pickup model changeover, it reported.
Cummins’ sales to the light duty auto/RV sector declined 31% during the entire year 2001 to $576 million.
Meanwhile, in power generation, Cummins, which owns Onan, reports its fourth quarter sales slipped 2% to $358 million, but increased 2% during all of 2001 to $1.42 billion.
Cummins anticipates “further deterioration in our power generation and engine markets” during the first quarter of 2002, so the company anticipates it will report a loss of around $31 million for the three months that will end on March 31.