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Paccar Says Earnings Tumble on Reduced Demand
Bellevue, Wash. -- Truck maker Paccar (PCAR Quote) on Friday said its fourth-quarter income fell by more than half, citing reduced demand and temporary plant shutdowns.
Paccar said it earned $113.1 million, of 31 cents per share, for the quarter ended Dec. 31. That's down from $261.1 million, or 71 cents per share, in the same quarter last year.
Sales decreased 24% to $2.62 billion from $3.43 billion last year. ...
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