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LOCAL EMPLOYER PREDICTS STRONG 2008
Friday, February 1st, 2008 -- 11:27 am
Posted by Riley Hebert-News Director
Despite a struggling economy, a company with a location in Neillsville had good past quarter.
Cummins Inc. said Friday its fourth-quarter net income rose 4.8%. The increase is despite a 50% decline in the heavy-duty truck market and due largely to a 30% up-tick in alternator sales.
For the recent quarter, the Columbus, Ind.-based diesel engine maker said its net income was $198 million, or $1 a share, up from $189 million, or 94 cents a share, a year earlier.
According to Market Watch, the company expects a very good 2008. They predict sales will 12% from 2007. Cummins also expects to generate earnings before interest and taxes of 10% of sales in 2008.
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