News Brief

Ford Posts Surprising Gains In First Quarter

Ford Motor Co. reported a global net income of $100 million--or 5 cents a share--for the first quarter to 2008, a surprising turnaround from the company's $282 million loss (15 cents a share) reported a year ago.

First-quarter revenue was $39.4 billion--down from $43 billion a year ago, when 2007 numbers were adjusted to exclude the Jaguar Land Rover and Aston Martin divisions, which are scheduled to be sold to India's Tata Motors later this year.

Ford's North America Motor Automotive operations recorded a $45 million loss for the quarter, compared with a $613 million loss from a year ago. Company executives said the improvements were attributable to operations savings, adding the North American and overall Automotive businesses were on track to return to profitability by 2009.

--Aaron Baar

Tags: automotive
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