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PACCAR Inc. Message Board

  • bluecheese4u bluecheese4u Jan 31, 2013 9:24 AM Flag

    PACCAR Announces Fourth Quarter Revenues and Profits

    PACCAR Announces Fourth Quarter Revenues and Profits

    Company Achieves Record Annual Revenues

    January 31, 2013, Bellevue, Washington – “PACCAR reported record revenues for 2012 and
    its 74th consecutive year of net profit. PACCAR’s annual revenues of $17.05 billion were the
    highest in company history and the $1.11 billion of net income was the fourth best in our
    history,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s financial results
    reflect the company’s premium-quality products and services, the benefits of increased
    geographic diversification, excellent aftermarket parts business and record PACCAR Financial
    Services performance. I am very proud of our 21,800 employees who have delivered
    outstanding industry-leading products and services.”
    “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. “PACCAR launched more new trucks in 2012 than in any other
    year. The Kenworth T680, the Peterbilt Model 579 and the DAF XF Euro 6 are the result of a $1
    billion, multi-year program to design and develop the highest quality, most efficient trucks in the
    industry,” added Armstrong. “We are pleased that DAF achieved record share in the European
    above 16-tonne market and Kenworth and Peterbilt achieved record share in the Class 8 market
    in North America.”
    Revenues, Net Income and Dividends
    PACCAR achieved record revenues of $17.05 billion in 2012 compared to revenues of $16.36
    billion in 2011. PACCAR reported net income of $1.11 billion in 2012 compared to $1.04
    billion earned last year. PACCAR’s 2012 earnings per diluted share (EPS) of $3.12 increased by
    nine percent versus 2011 EPS of $2.86. Fourth quarter net sales and financial service revenues
    were $3.99 billion compared to $4.85 billion for the comparable period in 2011. PACCAR
    earned $253.5 million ($.72 per diluted share) for the fourth quarter of 2012 compared to $327.7
    million ($.91 per diluted share) in the fourth quarter of 2011.
    PACCAR declared cash dividends of $1.58 per share during 2012, including a fourth quarter
    special dividend of $.80 per share. Total dividends declared in 2012 increased by 22 percent
    compared to 2011. PACCAR has paid a dividend every year since 1941. PACCAR’s total
    shareholder return was 25.1 percent during 2012.

    Business Highlights – 2012
    • PACCAR delivered 140,400 vehicles worldwide and introduced the Kenworth T680,
    Peterbilt Model 579 and DAF XF Euro 6.
    • PACCAR continued to expand its geographic footprint by beginning construction of a new
    DAF assembly plant in Brasil, generating record sales in Russia and delivering over 6,000
    trucks to the Andean region of South America.
    • PACCAR invested $790.3 million in capital projects and research and development.
    • PACCAR was ranked 20th in InformationWeek magazine’s 2012 Top 500 company listing.
    • The DAF CF85 earned the U.K.’s Motor Transport award for “Fleet Truck of the Year” for
    the eleventh time.
    • The Peterbilt Model 210 and Model 587 earned the American Truck Dealers Medium- and
    Heavy-Duty Commercial Truck of the Year awards.
    • Kenworth Trucks ranked highest in the J.D. Power Heavy Duty Dealer Service Customer
    Satisfaction Studysm* for the second consecutive year.
    • Leyland Trucks was honored with the Manufacturing Leadership Award for Operational
    Excellence in the annual Manufacturing Excellence Awards.
    • PACCAR has implemented 19,300 Six Sigma projects since 1997.


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