New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 20, 2013
08:04 EDTCMICummins revises previously announced Q4 operating results
Cummins has revised its previously announced Q4 and FY12 operating results to reflect information learned in February related to certain legal matters. The revisions were made to reflect a post-period increase to the Company’s contingent legal reserves for a recent adverse court ruling in a commercial contract dispute. As a result of the new information, EBIT for the fourth quarter and the full year decreased by $20M, while net income attributable to Cummins was reduced by $12M, or 7c per diluted share. This matter does not alter operating segment results as previously reported. The company’s revised fourth quarter EBIT was $532M excluding $52M of restructuring costs. Net income attributable to Cummins was $369M, or $1.95 cents per diluted share, including 19c per diluted share of restructuring costs and one-time tax benefits of 21c per diluted share. For the full year, the company’s revised EBIT, excluding special items, was $2.35B or 13.6% of sales compared to $2.6B or 14.2% of sales in 2011.
News For CMI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for CMI

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use