April 30, 2008 - 08:41 a.m.

COLUMBUS, Ind. (AP) - Cummins Inc. said Wednesday that first-quarter earnings jumped 33 percent as the diesel engine maker's international growth helped offset increased commodity prices and weakness in some U.S. markets.

For the period ended March 31, earnings rose to $190 million, or 97 cents per share, from $143 million, or 71 cents per share, in the prior year.

Quarterly sales grew 23 percent to $3.47 billion, from $2.82 billion in the first quarter of 2007.

Analysts surveyed by Thomson Financial forecast earnings of 89 cents per share steady revenue of $3.33 billion.

Cummins said strong performance in international markets helped offset rising commodity prices and weakness in some U.S. consumer-related markets, such as pickup truck engines, recreational vehicle products and recreational marine engines.

The company said sales growth was driven by its engine business, which is its largest segment.

Demand was strong for medium-duty truck engines in the U.S. and for commercial generator sets in India, Great Britain, Asia and the Middle East. Demand also increased for turbochargers and exhaust aftertreatment products in North America and Europe.

Cummins' distribution business reported strong growth in Europe, the Middle East and Asia Pacific.

Also, the company's joint venture earnings jumped 86 percent, boosted by emerging markets such as China and India, and by the company's North American distributors.

Shares rose $2.86, or 5 percent, to $60.35 in premarket trading later closing Tuesday at $57.49.