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Paccar 1Q Profit Drops 91 Percent

Stock quotes in this article: PCAR  

BELLEVUE, Wash. (AP) — Commercial truck maker Paccar Inc. said Tuesday its first-quarter profit tumbled 91 percent, citing the continued effects of the slow economy on the global shipping industry.

The company's shares fell 16 cents to $34 in premarket trading.

Paccar earned $26.3 million, or 7 cents per share, compared with $292.3 million, or 79 cents per share, for the same quarter last year. Sales plunged 52 percent to $1.73 billion from $3.62 billion. ...

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