Paccar 2013 profit climbs 5 percent on flat sales
The Bellevue-based truck manufacturer said Friday its annual revenues hit $17.12 billion, up 0.4 percent.
By Seattle Times staff
Paccar’s 2013 profits rose more than 5 percent on virtually flat sales, the Bellevue-based truck manufacturer said Friday.
The company reported record annual revenues of $17.12 billion, up 0.4 percent. Its net income of $1.17 billion, up 5.4 percent, was Paccar’s third-best ever, said Mark Pigott, chairman and chief executive officer. Earnings per share were $3.30, up 5.8 percent.
Fourth-quarter revenues were up 15 percent to $4.6 billion, and quarterly net income was $334.2 million or 94 cents per share.
Paccar shares were down $1.25, more than 2 percent, to $56.20 in morning trading.