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Frost__2001

04-27-2007, 09:46 PM
Ford Reports It Lost Millions Less Than Last Year
04-26-2007
Source: Inside Line

DEARBORN, Mich. — The Ford Motor Company has reported a net loss of $282 million for the first quarter of 2007 on sales of $43 billion. Both numbers represent improvement: last year in the same period, Ford lost $1.4 billion on sales of $40.8 billion.

The company's Way Forward restructuring continues to be challenging, and this is the seventh quarterly loss in a row for the automaker. New CEO Alan Mulally said Ford still has "a lot of work to do" and faces "many uncertainties going forward."

Pretax losses for North American Ford operations were $614 million, with sales down $1.6 billion to $18.2 billion.

The Wall Street Journal reported today that Mulally is holding Ford to the targets of cutting annual operating costs by $5 billion in 2008 and returning to profitability in North America by 2009.

What this means to you: The Way Forward for Ford continues to be a rough road.

NefCanuck

04-28-2007, 12:09 AM
Considering where Ford is coming from its not surprising that it is taking a while for them to get where they want to be

The big thing right now for Ford is to wean itself off of the big vehicles as fast as they can, for while in theory profitable, with reports that the U.S. could see $4/gallon gasoline this summer, I have a feeling the big iron will be sitting on lots rusting away :ph34r:

NefCanuck

habmann

04-28-2007, 12:38 AM
I think its kinda sad when a company posts news about losing less money than in the previous year. Ultimately they're still losing money.

oldeguy

04-28-2007, 01:09 AM
habmann,Apr 27 2007, 10:38 AM Wrote:I think its kinda sad when a company posts news about losing less money than in the previous year. Ultimately they're still losing money.
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It's sad, yes, but companies do it to say to everyone ( investors ) that "see were still bleeding, but not as bad as before." That way,it looks to the investors that the company knows what to do, now.
FocusCanada Forums > Canadian Focus Community > From the Street > Ford Reports It Lost Millions Less Than Last Year