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Ford reports $1 billion third quarter profit
Washington Published in Saudi Press Agency on 02 - 11 - 2009

U.S. auto giant Ford on Monday reported that they made a net profit of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
Ford said their earnings were fueled by U.S. market share gains, cost cuts and the government program that incentivized trading in older cars for newer, more fuel efficient models. Ford"s shares rose 58 cents, or 8.3 percent, to $7.58 in pre-market trading.
The company lost more than $14.6 billion last year and has not posted a full-year profit since 2005. Dearborn, Michigan-based Ford reported third-quarter net income of $997 million, or 29 cents per share. Ford also forecast a "solidly profitable" 2011. Previously, the automaker said it would be even out, or would post a slight profit.
--SPA

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