Thursday, January 28, 2010
Ford Posts 2009 Net Income Of $2.7B, Expects Profit In 2010
Ford now expects to be profitable for full year 2010 on a pre-tax basis excluding special items, for North America, total Automotive and total company, with positive Automotive operating-related cash flow.
“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,” said Ford President and CEO Alan Mulally (pictured left).
Net income for the fourth quarter was $868 million, or 25 cents per share, a $6.8 billion improvement over a
year ago. Excluding special items, Ford posted pre-tax operating profits totaling $1.8 billion during the fourth
quarter, a $5.5 billion improvement from a year ago. On an after-tax basis, excluding special items, Ford
posted an operating profit of $1.6 billion in the fourth quarter, or 43 cents per share, compared with a loss of
$3.3 billion, or $1.40 per share, a year ago.
Ford North America operations posted a pre-tax operating profit in the fourth quarter, excluding special items, of $707 million, its second straight profitable quarter. Ford South America, Ford Europe and Ford Asia Pacific Africa also posted pre-tax operating profits in the fourth quarter. Ford’s fourth quarter revenue was $35.4 billion, up $6.4 billion from a year ago.