Bellevue-based Paccar announced that its first-quarter profits fell 91 percent from a year ago, dropping from $292.3 million to $26.3 million.

The company, which builds heavy-duty trucks under the Peterbilt and Kenworth brands, also saw its revenues sink to $1.99 billion from $3.94 billion a year earlier.

Paccar is expecting between 100,000 and 130,000 truck sales in 2009, down from 130,000 to 170,000 predicted before. The company blames the housing slump and declines in auto production for its lowered outlook.