Arab Today, arab today ford profits rise on auto sales and tax boost
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Ford profits rise on auto sales and tax boost

Arab Today, arab today

Arab Today, arab today Ford profits rise on auto sales and tax boost

New York - AFP

Ford on Friday reported a fourth-quarter profit surge, boosted by strong North America sales and a huge special tax item. Ford Motor Company said earnings in the final quarter rose to $13.6 billion, an increase of $13.4 billion from the year-ago period, mostly due to special items. The increase was fueled by $12.4 billion for a tax adjustment and $401 million from the sale of Ford\'s Russian operations to the newly created FordSollers joint venture, the company said. Fourth-quarter earnings were $3.40 per share for the number two US auto giant. Revenue in the quarter was $34.6 billion, up 6.5 percent from a year ago and better than analysts anticipated. For all of 2011, the company reported net income was $20.2 billion, compared with $6.6 billion the previous year. Adjusted earnings per share of $1.66 for the full year were well below market expectations of $1.84. But 2011 revenue topped expectations at $136.3 billion, up a whopping 13 percent from 201. Europe remained the weak spot in the fourth quarter, with Ford registering a pre-tax operating loss of $190 million. \"Despite the continued uncertainty in the external environment, the strength of our North American and Ford Credit operations allows us to continue to invest for future growth and develop outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value,\" Ford president and chief executive Alan Mulally said. Ford, the only major US automaker that did not seek a government bailout during the 2008-2009 financial crisis, said it was making progress toward resuming dividends to shareholders. \"2011 marked a milestone year in our work to strengthen our balance sheet,\" said Lewis Booth, chief financial officer. \"We increased automotive cash, reduced debt and improved liquidity, clearing the way for us to resume paying a quarterly dividend.\" Investors punished the earnings news, sending Ford stock down 4.9 percent to $12.16 in pre-market trade.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford profits rise on auto sales and tax boost Arab Today, arab today ford profits rise on auto sales and tax boost

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford profits rise on auto sales and tax boost Arab Today, arab today ford profits rise on auto sales and tax boost

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday