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Paccar Reports Higher Income, Revenue for 4Q, 2006
Heavy-duty truck maker ar said Tuesday its fourth-quarter profit rose 22% to $380.5 million or $1.52 a share, from $312.9 million or $1.22 a year earlier.
Paccar, the parent of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co. and Europe-based DAF Trucks, said its net sales and financial services revenue rose 16% to a record $4.23 billion.For the full year, the company reported record net income of $1.5 billion or $5.95 per share, up from $1.13 billion or $4.37 billion in 2005. Revenue rose 17% to $16.45 billion, also a record.The company said it delivered a record 166,800 commercial vehicles worldwide last year. In the U.S. and Canada, Kenworth and Peterbilt reached a record 25.3% Class 8 retail market share, the company said.The company said that U.S. and Canadian Class 8 sales industry wide would be 200,000 to 230,000 this year, down from 320,000 last year.