Photo Credit: Kenworth
The PACCAR homepage reports improved revenues and net income for the first quarter of 2010.
“PACCAR’s results reflect the benefits of stronger truck sales in North America and an improvement in financial services profits and parts revenues worldwide,” said Mark C. Pigott, chairman and chief executive officer. “I am very proud of our 15,000 employees who have delivered superior results to our shareholders and customers in a very challenging recession. PACCAR’s excellent performance in profitability, shareholder return and new product development, against a backdrop of a very difficult global automotive industry, is remarkable.”
“PACCAR’s strong balance sheet and positive cash flow have enabled the company to maintain ongoing investments to enhance operating efficiency and develop innovative products such as the PACCAR MX diesel engine and introduce many new truck models. These investments contribute to the company’s long-term growth,” noted Pigott.