Ford turns 2nd Q profit

[Paraphoe]

Is this one of the signs of the apocalypse?

_______________________________

http://biz.yahoo.com/ap/070726/earns_ford.html?.v=10


Ford Surprises Wall Street With $750M Second-Quarter Earning, First Profit in 2 Years

DEARBORN, Mich. (AP) -- Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.

The company also confirmed it is exploring the sale of its Jaguar and Land Rover subsidiaries and said its U.S. market share rose during the quarter.

Despite that, Ford's president and chief executive Alan Mulally said investors should not think the automaker has turned the corner to consistent profitability.

"These accomplishments are something to be proud of, but we are not ready to declare victory," Mulally said, predicting substantial losses in the third and fourth quarters.

Ford's second-quarter profit of 31 cents per share compares with a net loss of $317 million, or 17 cents per share, in the same quarter of last year.

The company attributed the gains to significant year-over-year improvement in all of its automotive operations, and to cost cuts due to restructuring and positive special items that totaled $443 million. That includes a $206 million gain related to sale of its Aston Martin unit. Even its struggling North American division showed progress.

 

[Lefy]

thats good to hear. I hope they continue and get their stuff back together.

 

[jeepshop]

If they'd stop sponsoring the Gay parade I'd have a Ford in my driveway, but......

 

[camaro_guy_z28]

Is this one of the signs of the apocalypse?

_______________________________

http://biz.yahoo.com/ap/070726/earns_ford.html?.v=10


Ford Surprises Wall Street With $750M Second-Quarter Earning, First Profit in 2 Years

DEARBORN, Mich. (AP) -- Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.

The company also confirmed it is exploring the sale of its Jaguar and Land Rover subsidiaries and said its U.S. market share rose during the quarter.

Despite that, Ford's president and chief executive Alan Mulally said investors should not think the automaker has turned the corner to consistent profitability.

"These accomplishments are something to be proud of, but we are not ready to declare victory," Mulally said, predicting substantial losses in the third and fourth quarters.

Ford's second-quarter profit of 31 cents per share compares with a net loss of $317 million, or 17 cents per share, in the same quarter of last year.

The company attributed the gains to significant year-over-year improvement in all of its automotive operations, and to cost cuts due to restructuring and positive special items that totaled $443 million. That includes a $206 million gain related to sale of its Aston Martin unit. Even its struggling North American division showed progress.

Its good to finally here some good news about an american car company. Gm seems to be turning things around for the better also.