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Cummins Engine Co. reported its second consecutive quarterly profit, earning $22.4 million, or $1.22 a share, up from a loss of $17.2 million, or $1.29 a share, a year earlier. The Columbus, Ind.-based maker of heavy diesels credited an improved economy for an 8 percent rise in sales, to $948 million from $878 million. The company took a $4.9 million one-time credit for accounting changes on its latest earnings.
Cummins earned $8.6 million in this year`s first quarter, its first profit after seven losing quarters. Net income for the first half of the year totaled $31 million, or $1.70 a share, after accounting changes. That compared with breaking even for the first half of 1991 and a per-share loss of 27 cents.
