Ford posts full-year profit for 2009, improves $17.5B from last year

[BerserkerCatSplat]

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

Source



Not a large profit, but profit is profit. Further proof that having a decent product strategy is far more effective than wanton bailouts.

[snoop101]

Im a huge german car aker fan, but I got to hand it to Ford for stepping it up. I actually like the looks of most of there vehicles and the ad's are actually working. My fiance is not a car person at all and she watches the ad's and says "thats cool, I like that" or "those are nice". That does show that the average person does look at them differently.

As for the car line up I do like that the fusion comes in FWD or AWD, different engine options and a GOOD hybrid.

[TurboMedic]

Bring us the Focus RS and I'm all over it....

[Eleanor]

[Pahnda]

Henry Ford is probably clapping in his grave right now