speedflex

Ford surprises with $100 million profit in 1st quarter


FoMoCo surprised the industry and Wall Street today with the announcement of a $100 million profit for the first quarter of 2008, an improvement of $382 million from a year ago. The profit was due to strong European and South American sales which helped offeset the impact of sluggish U.S. sales.

Ford’s first quarter pre-tax operating profit, excluding special items, was $736 million, up $669 million from a year ago. On an after-tax basis, Ford’s first quarter operating profit from continuing operations, was $525 million, compared with a loss of $172 million in the same period a year ago.

Ford posted strong profits of $739 million in Ford Europe and $257 million in Ford South America. Ford North America improved by nearly $600 million from year-ago levels.

“The remainder of 2008 will be a challenge but we are cautiously optimistic despite the external challenges,” CEO Alan Mulally said. “Our plan is working.”

http://www.egmcartech.com/2008/04/24...n-1st-quarter/

Threxx

I didn't expect that at all and I'm still skeptical that creative accounting might have been used.

Trexus

I believe PricewaterhouseCoopers audits Ford's financials and I do hope they comply with general accepted auditing standards as do all the large CPA firms do with the expection of Arthur Andersen handling the auditing of Enron which ultimately lead to their downfall.

If this is true that's great for Ford and hopefully they stay on track. Good luck to Ford...

SLegacy99

They're talking about axing the Mercury brand. Im not sure thats such a good idea. They just need to offer cars that are more upscale or different from Ford. You have to give reason for people to spend the extra money.

cpone

They need to go more GREEN!