Business
2nd Quarter Results
2nd Quarter Results.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n Ford Motor Co\n20 July 2006\n\n\nNEWS\n\nContact: \n\nMedia: Equity Investment Fixed Income Shareholder Inquiries:\nBecky Sanch Community: Investment Community: 1.800.555.5259 or\n1.313.594.4410 Raj Modi Rob Moeller 1.313.845.8540\[email protected] 1.313.323.8221 1.313.621.0881 [email protected]\n [email protected] [email protected]\n\n\n\nFOR IMMEDIATE RELEASE\n\n\nFORD REPORTS SECOND QUARTER 2006 FINANCIAL RESULTS\n\n\n • Net loss of 7 cents per share, or $123 million, for the second quarter \n of 2006. \n\n • Loss from continuing operations, excluding special items, of 3 cents \n per share, or $48 million.* \n\n • Strong liquidity with total automotive cash, including cash equivalents, \n marketable securities and loaned securities, at $23.6 billion. \n\n • Ford Credit pre-tax profit of $656 million. \n \n\n\nDEARBORN, Mich., July 20, 2006 - Ford Motor Company (NYSE: F) today reported a \nnet loss of 7 cents per share, or $123 million, for the second quarter of 2006. \nThis compares with net income of 47 cents per share, or $946 million, in the \nsecond quarter of 2005. \n\nFord's second-quarter loss from continuing operations, excluding special items, \nwas 3 cents per share, or $48 million, compared with a profit of 47 cents per \nshare, or $936 million, in the same period a year ago.*\n\nFord's second-quarter total sales and revenue was $42 billion, down $2.5 billion \nfrom a year ago. \n\n* Earnings per share from continuing operations, excluding special items, is \ncalculated on a basis that includes pre-tax profit and provision for taxes and \nminority interest. See table following 'Safe Harbor/Risk Factors' for the \nnature and amount of these special items and a reconciliation to GAAP.\n\n\n'We've seen an improvement in North America results in the second quarter, but \nthe external factors we face aren't going to get any easier,' said Chairman and \nChief Executive Officer Bill Ford. 'Mark Fields (executive vice president and \npresident - The Americas) and his team have been working on plans to accelerate \ntheir efforts. Within the next 60 days, we'll be in a position to discuss the \nadditional actions we will be taking.'\n\nSpecial items reduced earnings by 4 cents per share in the second quarter. The \npre-tax effect of these items included:\n\no A favorable adjustment of $146 million, or 5 cents per share...