JOC Staff | Jan 31, 2013 11:59AM EST
Truck manufacturer PACCAR today reported a net income of $1.1 billion in 2012,an increase of 7 percent from $1.0 billion in 2011.
Annual revenue was a record $17.1 billion, up 4 percent compared with $16.4 billion in 2011.
“PACCAR launched more new trucks in 2012 than in any other year,” said Ron Armstrong, president, in a written statement.
PACCAR delivered 140,400 vehicles worldwide in 2012 and introduced the Kenworth T680, Peterbilt Model 579 and DAF XF Euro 6.
However, profit in the fourth quarter was $253.5 million, down 23 percent year-over-year from $327.7 million. Quarterly revenue was $4.00 billion, falling 18 percent from $4.85 billion in the fourth quarter of 2011.