As a result of the new information, Earnings Before Interest and Taxes for the fourth quarter and the full year decreased by Co announces that it has revised its previously announced fourth quarter and full year 2012 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, Earnings Before Interest and Taxes for the fourth quarter and the full year decreased by $20 mln, while net income attributable to Cummins was reduced by $12 mln, or $0.07 per diluted share. This matter does not alter operating segment results as previously reported.
Net income attributable to co was $369 mln, or $1.95 cents per diluted share, (including $0.19 per diluted share of restructuring costs and one-time tax benefits of $0.21 per diluted share). This compares to the co's reported GAAP EPS of $2.02, and still above the final earnings estimate of $1.74. The Company's revised fourth quarter EBIT was $532 mln excluding $52 mln of restructuring costs.
0 mln, while net income attributable to Cummins was reduced by "2 mln, or $0.07 per diluted share. This matter does not alter operating segment results as previously reported.
Net income attributable to co was $369 mln, or ".95 cents per diluted share, (including $0.19 per diluted share of restructuring costs and one-time tax benefits of $0.21 per diluted share). This compares to the co's reported GAAP EPS of Co announces that it has revised its previously announced fourth quarter and full year 2012 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, Earnings Before Interest and Taxes for the fourth quarter and the full year decreased by $20 mln, while net income attributable to Cummins was reduced by $12 mln, or $0.07 per diluted share. This matter does not alter operating segment results as previously reported.
Net income attributable to co was $369 mln, or $1.95 cents per diluted share, (including $0.19 per diluted share of restructuring costs and one-time tax benefits of $0.21 per diluted share). This compares to the co's reported GAAP EPS of $2.02, and still above the final earnings estimate of $1.74. The Company's revised fourth quarter EBIT was $532 mln excluding $52 mln of restructuring costs.
.02, and still above the final earnings estimate of ".74. The Company's revised fourth quarter EBIT was $532 mln excluding $52 mln of restructuring costs.
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
Read more In play articles
