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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Cummins Second Quarter Earnings Fall 12% 0 comments
    Jul 30, 2013 10:17 AM | about stocks: CMI

    Originally published at www.seclive.com

    Cummins Incorporated (NYSE:CMI) reported quarterly earnings that fell 12% as the result of decreased margins, despite a slight increase in sales. Cummins has been concerned about the demand for its engines, and attributes the decreased demand to a hesitant trucking industry that is concerned about the U.S. economy and freight volume. As mentioned, the company's gross margin decreased from 27.2% to 25.5% while sales increased 1.6% to $4.53B. North American sales, the company's most successful business region, increased 7% while international sales declined 4%. Cummins earnings and earnings per share decreased from $469M and $2.47 this quarter last year respectively, to $414M and $2.20 earnings per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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