Paccar quarterly profit drops


CHICAGO, Jan 29 (Reuters) - Paccar Inc , the No. 2 U.S. maker of heavy trucks, said on Tuesday that its earnings in the latest quarter fell a greater-than-expected 31 percent, pulled down by weakness in North America and a big jump in research and development spending. The company reported a fourth-quarter profit of $261.1 million, or 71 cents a share, down from $380.5 million, or $1.01 a share, last year. Revenue of the Bellevue, Washington-based company fell 11 percent to $3.76 ...

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