PACCAR Sees Record Revenue, Net Income in 2006

PACCAR Inc. sees revenue increase 17% to $16.45 billion in 2006, while net income rose 32% to $1.50 billion.

Both figures were records, the truck maker says.

“PACCAR has achieved 68 consecutive years of net profitability in the company’s

remarkable 101-year history and continues to build on its exceptional reputation as a leading global technology company,” Mark C. Pigott, chairman and CEO, says.

Pigott says more than 48% of PACCAR’s revenue and 47% of its profits in 2006 were made outside the U.S.

For fourth-quarter 2006, PACCAR saw net earnings rise 22% to $380.5 million and revenue generated a record $4.23 billion, up 16% from fourth-quarter 2005’s $3.64 billion.

PACCAR sold a record 166,800 commercial vehicles globally last year. It forecasts U.S. and Canadian Class 8 retail sales to range from 200,000-230,000 units in 2007, down from 320,000 in 2006.

Last year, PACCAR says its Kenworth and Peterbilt brands had a record 25.3% share of Class 8 retail sales in the U.S. and Canada, up from a 23.1% share in 2005.