June 2007 -- Paccar Inc. enjoyed record revenue and record net income in 2006, as well as its 68th consecutive year of net profitability. Consolidated revenues for 2006 grew 17% over the previous year to reach $16.45 billion, while net income for the year grew by 32% to $1.496 billion, or $5.95 per diluted share, compared with $1.133 billion in 2005.
Cash dividends of $2.77 per share were declared during 2006, which included a special dividend of $2.
"Paccar's balanced global diversification, world-class information technology, growing financial services companies and superior quality products have generated excellent financial returns," said Mark C. Pigott, chairman and chief executive officer, in a year-end statement.
Paccar, whose companies include Kenworth and Peterbilt, also reported that after-tax return on shareholder's equity was 38.3%.
The strong year in 2006 carried forward into the first quarter of 2007. Paccar announced in April 2007 that its first-quarter revenues were $3.98 billion, 3% higher than the comparable period in 2006, while net income of $365.6 million compared with $342 million in the previous year's first quarter.
