Cummins Engine Co. posted a net loss...

Cummins Engine Co. posted a net loss of $63.4 million for 1988, contrasted with earnings of $13.9 million in 1987. Sales rose 18% to $3.3 billion. The Columbus, Ind.-based company, which is the largest U.S. diesel engine manufacturer, said the results include a $50.5-million pretax charge in the fourth quarter for disposing of certain operations and completing a restructuring.