BELLEVUE, Wash. -- PACCAR has reported “very good” revenues and net income for the first quarter of 2008, according to Chairman and CEO Mark Pigott.

PACCAR earned $292.3 million (79 cents per diluted share) for the first quarter of 2008 compared to $365.6 million (97 cents per diluted share) earned in the first quarter last year. First quarter net sales and financial services revenues were $3.94 billion compared to $3.98 billion reported for the first quarter of 2007.

“PACCAR has benefited from balanced global diversification, with more than 60 percent of revenues originating outside the U.S. and continued solid performance in the company’s aftermarket parts and financial services businesses,” Pigott said. “Robust demand for PACCAR products in Europe and international markets continues to generate excellent earnings and provide opportunities for growth, tempered by the continued softness in the U.S. and Canada truck markets.”

“PACCAR’s strong balance sheet and outstanding cash flow have allowed the company to increase its capital investments in new quality products and services, enhance facility efficiency and increase aftermarket distribution capacity during all phases of the business cycle,” Pigott said. Capital and research and development expenditures exceeded $169 million during the quarter.

For more information about PACCAR, visit: www.paccar.com.