Paccar’s 4Q Income Falls
Heavy-duty truck maker Paccar Inc. said Tuesday its fourth-quarter profit fell to $261.1 million, or 71 cents per share, from $380.5 million, or $1.01 per share, a year earlier.
Sales and financial services revenue declined $3.76 billion, from $4.23 billion a year earlier.
For the full year, net income was $1.23 billion, or $3.29 per share, down from $1.5 billion, or $3.97, in 2006.
Full-year revenue declined to $15.2 billion, from $16.5 billion the previous year
U.S. and Canadian heavy-duty truck sales declined 45% from the previous year, Paccar said in a statement.
Paccar is the parent company of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co., and Europe-based DAF Trucks.
