Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Ford Posts Net Income Topping $20 Billion

DEARBORN, Mich., Jan. 27 (UPI) — U.S. automaker Ford Motor Co. said Friday it took a one-time accounting benefit that propelled its fourth quarter net income to $13.6 billion.

It was the most ever for Ford in a fourth quarter and helped put the company in the black for the third consecutive year.

Ford’s fourth quarter report said the firm posted an operating profit of $1.1 billion, or 20 cents a share, a sharp drop from the fourth quarter of 2010, when profits were at 30 cents a share. Ford’s one-time accounting adjustment was worth $12.4 billion, increasing its 2011 net earnings to $20.2 billion.

Ford, the only major U.S. automaker to avoid bankruptcy in 2009, has earned a profit for three consecutive years.

Revenue for the fourth quarter hit $34.6 billion, but investors were not appeased by the report, which showed pre-tax automotive operating profit of $596 million for the fourth quarter and $2.4 billion for the full year.

Ford said its hourly workers can expect a semi-annual bonus check of about $3,760 each, putting their annual bonus in 2011 at about $6,200 per worker.

Ford reported a pre-tax operating profit of $889 million in the fourth quarter in North America, up from $670 million a year earlier. In South America, the company posted an operating profit of $108 million, compared with profits of $281 million a year ago.

In Europe, fourth quarter losses grew from $51 million in 2010 to $190 million in 2011.

 

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Ford Posts Net Income Topping $20 Billion”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.