Bellevue-based PACCAR achieved its greatest quarterly revenues in the company’s history in the fourth quarter of 2011.
The international truck producer also cemented its 73rd consecutive year in the black.
PACCAR earned $327.7 million for the fourth quarter of 2011, a 93 percent increase compared to $169.8 million earned in the fourth quarter of 2010. PACCAR recorded record quarter net sales and financial revenue services were $4.85 billion, up 58 percent compared to $3.06 billion reported for the same period in 2010.
Net sales and financial service revenues for the full year 2011 were the second highest in company history at $16.36 billion versus $10.29 billion in 2010. PACCAR reported net income in 2011 of $1.04 billion, more than double the $457.6 million earned in 2010.
Much of the success can be attributed to the company’s global presence.
PACCAR began construction of a new 300,000-square-foot DAF assembly facility in Ponta Grossa, Brazil this year. PACCAR officials said Brazil is one of the top truck markets in the world. This new facility will become a big part of PACCAR’s business as soon as 2013. PACCAR has found consistent throughout many South American companies, making Brazil a natural landing spot.
“The successful introduction of DAF vehicles into Chile, Ecuador and Peru in 2011 helped PACCAR achieve a record level of vehicle sales in the region,” said Sam Means, PACCAR vice president.
PACCAR also expanded its presence in Asia this year, with an expansion of the Shanghai office, and a new technical facility in Pune, India. The year also saw PACCAR produce a new sales office in Russia.