Paccar Inc. has reported record revenues and net income for the second quarter and first half of 2004.
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The maker of light, medium and heavy duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates earned $US236.5 million ($1.34 a share) for the second quarter of 2004, an increase of 91% compared to the $124.1 million ($.71 a share) earned in the second quarter last year.
Second quarter net sales and financial services revenues were $2.79 billion, 39% higher than the $2.01 billion reported for the comparable period in 2003.
Net sales and financial services revenues for the first six months of 2004 were $5.29 billion compared to $3.93 billion last year.
For the first six months of 2004, Paccar reported net income of $418.7 million ($2.37 a share) compared to $234.9 million ($1.34 per share) in 2003.
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By GlobalDataPaccar has invested more than €250 million in its European truck operations – DAF, Leyland and Foden – during the past five years, including the design and launch of the new range of DAF trucks, engine transfer and assembly lines, as well as the development of new engines.
Company research and development centres in the US and Europe recently installed advanced rapid prototype machines, which will accelerate design development.
Electronic dealerships were constructed in Renton, Washington, and Eindhoven, The Netherlands, to showcase current and future technological tools available to Paccar’s global dealer network.
Paccar Parts recently completed an 80,000-square-foot expansion of its Atlanta, Georgia, parts distribution centre and opened its new 100,000-square-foot parts distribution center at Leyland, UK.
Capacity at the Leyland, UK, manufacturing facility was increased as new 3-D manufacturing simulation software and a sophisticated logistics system were installed.
