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Paccar touts higher sales, earnings

BELLEVUE, Wash. -- Paccar reports higher sales and net income for the second quarter and first half of 2002 compare...


BELLEVUE, Wash. — Paccar reports higher sales and net income for the second quarter and first half of 2002 compared with the same periods a year ago.

Mark C. Pigott, the company’s chairman and chief executive officer, says second quarter net sales and financial services revenues were $1.8 billion, 18 per cent higher than the $1.5 billion reported for the comparable period in 2001. Net income of $73.7 million ($.63 per diluted share) increased 87 per cent from the $39.5 million ($.34 per diluted share) earned last year.

“Paccar has earned a profit for 62 consecutive years, through all stages of the business cycle. The market recognizes Paccar’s excellent balance sheet, the superior quality of Kenworth, Peterbilt, DAF and Foden trucks, as well as the industry-leading aftermarket support provided to our customers,” says Pigott.


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