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Ford's profit

By United Press International   |   Jan. 28, 2010 at 8:42 AM   |   Comments

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DEARBORN, Mich., Jan. 28 (UPI) -- Ford Motor Co., the only major U.S. carmaker not to go through bankruptcy last year, reported 2009 income of $2.7 billion and its first profit in four years.

Ford posted its fourth quarter and 2009 earnings statements Thursday, saying the car company's pre-tax operating profits of $454 million represented a $7.3 billion improvement on its 2008 figures. Its year-end figures hadn't been in the black since 2005.

The company had profits of $1.8 billion in the fourth quarter alone.

Ford avoided the bankruptcies that dampened public enthusiasm for General Motors and Chrysler, which entered court protection despite billions in federal bailout funds.

Ford Chief Executive Officer Alan Mulally, in a company news release, said: "While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale. In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world."

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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