Paccar revealed improved revenues and net income for the first quarter 2010, a reflection of stronger truck sales in North America, a small pre-buy effect of the new EPA 2010 engines, and higher financial services profits and parts revenues

, the company said.

Paccar earned $68.3 million, or 19 cents a share, compared to $26.3 million, or 7 cents a share, in the first quarter last year. First quarter net sales and financial services revenues were $2.23 billion, up from $1.99 billion in the year-ago period.

"Financial results for the first quarter reflect the benefit of a small 'pre-buy' in the U.S. and Canadian markets as customers transition to the new EPA 2010 engine emission technology," said Mark C. Pigott, chairman and CEO. "However, the U.S. and Canada truck markets are being negatively impacted in the second quarter as the industry adjusts to higher-priced vehicles."

The first quarter was characterized by several new product launches, including the Paccar MX engine, the Kenworth model T700 and T440, the Peterbilt model 587, the Peterbilt 320 Hybrid Class 8 refuse truck, the model 382 and Paccar's new in-dash telematics system.

"Truck retail sales are still below replacement demand levels, resulting in the North American truck fleet age of nearly seven years," said Dan Sobic, Paccar executive vice president. "The truck industry is generating slightly better parts and service business due to the aging fleet and higher tonnage."