Diesel engine maker Cummins Inc. said Thursday its third-quarter profit rose to $184 million or $1.84 a share, from $171 million or $1.69 a year ago. Sales jumped 20% to a record $3.37 billion, the company said in a statement. Cummins’ engine business saw a 17% gain, led by the light- and medium-duty truck markets, “despite continued weakness in the North America heavy-duty truck engine market related to emission regulation changes,” the company said. U.S. heavy-duty truck engine sales fell to $520 million from $632 million last year. “The industry forecast for trucks in that market is now about 180,000 units for the full year 2007, down almost 50% from 2006,” Cummins said in a statement. Cummins said last month that it would use exhaust gas recirculation technology — and not selective catalytic reduction — in its 2010 heavy-duty engines.
No surprise, lots of companies running the big trucks didn't want the new emission junk. So they spent the money in 2006.
