PACCAR reports increased sales, income

BELLEVUE, Wash. — PACCAR earned $99.6 million, or $0.27 per diluted share, for the second quarter of 2010, compared to $26.5 million, $0.07 per diluted share, earned in the second quarter last year.

Second quarter net sales and financial services revenues were $2.46 billion, compared to $1.85 billion reported in 2009.

Net sales and financial services revenues for the first six months of 2010 were $4.69 billion, compared to $3.83 billion last year. For the first six months of 2010, PACCAR reported net income of $167.9 million, or $0.46 per diluted share, compared to $52.8 million, or $0.14 per diluted share, in 2009.

Mark C. Pigott, chairman and CEO of PACCAR, said, “Against a backdrop of global truck markets that are only gradually emerging from historically low levels, PACCAR’s results reflect the benefits of higher truck and parts sales and improving financial services profits worldwide. Our customers are benefiting from increased freight tonnage, which has resulted in higher fleet utilization rates, resulting in positive gains for our aftermarket parts sales.”