Business
Half-yearly Report
Half-yearly Report.
About this update from Gaming Realms Plc
[{"type":"text","content":"\n \n \n GM Reports Preliminary Second Quarter Financial Results \n \n DETROIT, Aug. 1 -- \n \n -- Adjusted net loss of $6.3 billion, reported net loss of $15.5 billion \n -- Results impacted by $9.1 billion of predominantly non-cash special \n items \n -- Sales records set in three of four regions \n -- Q2 liquidity position of $21 billion, plus credit lines of additional \n $5 billion \n \n \n \n Second Quarter \n 2008 2007* '08 O/(U)'07 \n \n Revenue (bils.): $38.2 $46.7 $(8.5) \n Adjusted automotive \n earnings before tax (bils.): $(4.0) $1.0 $(5.0) \n Reported automotive earnings \n before tax (bils.): $(9.1) $0.8 $(9.9) \n Adjusted net income (bils.): $(6.3) $1.3 $(7.6) \n Reported net income (bils.): $(15.5) $0.8 $(16.3) \n Reported earnings per \n share (diluted): $(27.33) $1.37 $(28.70) \n Adjusted operating cash \n flow (bils): $(3.6) $1.1 $(4.7) \n * 2007 figures reflect continuing operations \n \n \n General Motors (NYSE: GM) today announced its financial results for the \nsecond quarter of 2008, which include significant charges and special items. \nThe reported net loss was $15.5 billion or $27.33 per share for the second \nquarter, including these charges and special items, compared with net income \nfrom continuing operations of $784 million or $1.37 per share in the second \nquarter of 2007. On an adjusted basis, GM posted a net loss of $6.3 billion \nor $11.21 per share, compared with net income from continuing operations of \n$1.3 billion or $2.29 per share in the same period last year. \n GM previously announced that it anticipated a significant second quarter \nloss, driven in large part by costs associated with the American Axle and \nlocal U.S. strikes, and charges related to the successful U.S. hourly \nattrition program, actions to reduce North American truck capacity, Delphi and \nother matters. The operating and liquidity actions announced on July 15 \ncontemplated weak second quarter results and a continued unfavorable U.S. \nenvironment. The company has outlined a strong cadence of product, \npowertrain, capacity and liquidity actions over the past 60 days, to realign \nthe business with current U.S. economic and auto market conditions, and \nposition the company for profitable global growth. \n Some of those actions include cessation of production at four truck \nplants, shift reductions at two truc...