Ford Posts Big Profits

[HSE2]

by Dee-Ann Durbin, AP Auto Writer

DEARBORN, Michigan (AP) — Ford's stock price fell after weak sales in Europe and production losses in Asia hurt fourth-quarter earnings.

Ford Motor Co. reported $13.62 billion in net income, but investors brushed off the result because most of that came from an accounting change. Excluding that change, earnings totaled $1.1 billion, or 20 cents a share, missing Wall Street expectations by 5 cents.

Ford shares were down as much as 6 percent in premarket trading. They were down 3 percent to $12.41 in mid-morning trading.

The company lost money in Europe and Asia in the fourth quarter, and profits fell in South America. But its North American operating profit rose 33 percent to $889 million.

"The quarter was really driven by North America," Chief Financial Officer Lewis Booth said.

Booth said November flooding in Thailand, which affected its parts suppliers, had a greater impact than the company expected. Ford lost 34,000 units of production in Thailand and in South Africa, which relies on Thai-made parts. He said the company also saw higher costs for steel and other commodities. Ford spent $2.3 billion more on commodities in 2011 than the prior year, or $100 million more than it had forecast.

read more here ->http://www.mbtmag.com/news/2012/01/f...ts-big-profits

[FTe217]

Nothing new here re Nth America bringing in the dividends...this is where they need to change considerably - Asia Pacific that I know they are working on is such a growth area but the competitors are getting more and more entrenched with Distribution, I notice this by my travels over there.
Nonetheless in the black by the books is always better than in the red.

[4Vman]

Nice to read some positive news!