PACCAR Q4 net income down

PACCAR Inc, which is engaged in the design, manufacture and distribution of light, medium and heavy-duty commercial trucks and related aftermarket parts, has reported that net income for the fourth quarter ended December 31, 2012 was $253.5 million, or $0.72 per share, compared to $327.7 million, or $0.91 per share, for the fourth quarter ended December 31, 2011.

Net sales and financial service revenues for the fourth quarter ended December 31, 2012 were $3.99 billion, compared to $4.85 billion for the fourth quarter ended December 31, 2011.

Net income for the year ended December 31, 2012 was $1.11 billion, or $3.12 per diluted share, compared to $1.04 billion, or $2.86 per diluted share, for the year ended December 31, 2011.

Net sales and financial service revenues for the year ended December 31, 2012 were $17.05 billion, compared to $16.36 billion for the year ended December 31, 2011.

"PACCAR's strong balance sheet and operating cash flow of $1.52 billion in 2012 enabled the company to deliver many new products, enhance manufacturing efficiency and expand globally", said Ron Armstrong, president.