Ford Posts Full Year Profit

[Wretched]

FORD POSTS FULL YEAR PROFIT FOR 2009; FOURTH QUARTER 2009 NET INCOME OF $868 MILLION; PLANS TO BE PROFITABLE IN 2010+

* Full year net income of $2.7 billion, or 86 cents per share, a $17.5 billion improvement from a year ago. Pre-tax operating profits of $454 million, a $7.3 billion improvement from a year ago++
* Fourth quarter net income of $868 million, or 25 cents per share, a $6.8 billion improvement from a year ago. Pre-tax operating profits of $1.8 billion, a $5.5 billion improvement from a year ago++
* Ford North America fourth quarter pre-tax operating profits of $707 million, a $2.6 billion improvement from a year ago++
* Reduced Automotive structural costs by $500 million compared with the fourth quarter 2008, bringing the total 2009 reduction to $5.1 billion, exceeding the target of about $4 billion
* Strong products drove full year market share gains in North America, South America and Europe as well as continued improvements in transaction prices and margins
* Ended the year with $25.5 billion of Automotive gross cash and $34.3 billion in Automotive debt
* Achieved positive Automotive operating-related cash flow of $3.1 billion for the fourth quarter. Full year Automotive operating-related cash outflow was $300 million, a $19.2 billion improvement over 2008
* Ford Credit fourth quarter pre-tax operating profits of $696 million, a $1.1 billion improvement from a year ago
* For full year 2010, Ford plans to be profitable on a pre-tax basis excluding special items, for North America, total Automotive and total company, with positive Automotive operating-related cash flow, based on its assumptions

http://media.ford.com/article_displa...ticle_id=31920

Ford chief executive officer Alan Mulally, 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."

http://www.autocar.co.uk/News/NewsAr...llCars/247161/

Good news. Though this would include the Volvo and other sales, it is positive news and hopefully they can keep up the momentum. The One Ford plan could work.