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Cummins restates financial results

New York, N.Y. -- Cummins has restated its results for three quarters in 2002 and 2003.


New York, N.Y. — Cummins has restated its results for three quarters in 2002 and 2003.

The move comes after the diesel engine manufacturer discovered accounting errors in its 2002 first and second quarter reports, as well as the reports for the first quarter of this year.

According to Cummins, the company’s 2002 first-quarter net loss was $24 million or 62 cents a share, not $26 million or 68 cents previously reported.

Net income in 2002’s second quarter was $16 million or 41 cents a share, rather than $13 million or 33 cents.
And the reported loss in this year’s first quarter was $31 million or 79 cents a share, rather than $34 million or 86 cents.


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