UPDATE 1-Cummins 2nd-qtr net falls 81 percent


* Q2 net profit 28 cents a share * Q2 profit ex-items 30 cents a share * Sees '09 sales down more than 30 pct from '08 CHICAGO, July 30 (Reuters) - Cummins Inc said on Thursday that second-quarter earnings fell 81 percent as it grappled with a sharp drop in demand for its engines and other power-generating products. But the company reiterated its full-year sales and profit forecast even though it said it didn't expect a near-term recovery in its markets. Net profit fell to $56 ...

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