“Paccar achieved record revenues and net income for the first quarter of 2006," said Mark C. Pigott, chairman and chief executive officer.
Paccar earned $342.0 million ($2.02 per diluted share) for the first quarter 2006, an increase of 25 percent compared to the $274.0 million ($1.56 per diluted share) earned in the first quarter of 2005. First quarter net sales and financial services revenues were $3.85 billion versus $3.33 billion for the first quarter of last year. The company's after-tax return on consolidated revenues (ROR) was a record 8.9 percent in the first quarter of 2006 compared to 8.2 percent in the first quarter of 2005.
"Paccar's diversified businesses worldwide contributed to the stellar results this quarter,” Pigott said. “Paccar Parts, Paccar Financial Services, Information Technology and Truck Manufacturing made strong contributions to the record net income. Paccar's sales in North America, Europe and export markets are performing well due to the company's industry-leading quality products and services. Paccar's focus on designing innovative products, utilizing advanced technology and delivering superior customer support has defined the company for over 100 years."
"The outstanding return on revenues continues to demonstrate that Paccar is one of the leading industrial and financial services companies worldwide," said Mike Tembreull, vice chairman.
The Paccar board of directors approved an increase to the regular quarterly dividend from $.25 per share to $.30 per share, effective with the dividend payment of June 5, 2006, for shareholders of record May 18, 2006. Paccar has raised its regular quarterly dividend nine times in the last 10 years, an increase of 435 percent over the decade. Paccar has paid a quarterly dividend every year since 1941.
Paccar earned $342.0 million ($2.02 per diluted share) for the first quarter 2006, an increase of 25 percent compared to the $274.0 million ($1.56 per diluted share) earned in the first quarter of 2005. First quarter net sales and financial services revenues were $3.85 billion versus $3.33 billion for the first quarter of last year. The company's after-tax return on consolidated revenues (ROR) was a record 8.9 percent in the first quarter of 2006 compared to 8.2 percent in the first quarter of 2005.
"Paccar's diversified businesses worldwide contributed to the stellar results this quarter,” Pigott said. “Paccar Parts, Paccar Financial Services, Information Technology and Truck Manufacturing made strong contributions to the record net income. Paccar's sales in North America, Europe and export markets are performing well due to the company's industry-leading quality products and services. Paccar's focus on designing innovative products, utilizing advanced technology and delivering superior customer support has defined the company for over 100 years."
"The outstanding return on revenues continues to demonstrate that Paccar is one of the leading industrial and financial services companies worldwide," said Mike Tembreull, vice chairman.
The Paccar board of directors approved an increase to the regular quarterly dividend from $.25 per share to $.30 per share, effective with the dividend payment of June 5, 2006, for shareholders of record May 18, 2006. Paccar has raised its regular quarterly dividend nine times in the last 10 years, an increase of 435 percent over the decade. Paccar has paid a quarterly dividend every year since 1941.
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