UPDATE 1-Paccar 4th-qtr net tumbles 56 pct

Newswire

* Profit 31 cents a share * Says challenges to its business are growing * Says cutting expenses "rigorously" CHICAGO, Jan 30 (Reuters) - Paccar Inc , the No. 2 U.S. maker of heavy trucks, said quarterly earnings tumbled 56 percent, hurt by reduced gross margins, lower build rates and costs associated with temporary plant shutdowns as recession hits demand for its products. Paccar warned that the challenges it faced last year are increasing and said it was continuing to slash ...

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