BUSINESS INFORMATION - Ford Surprises Recording income.

BUSINESS INFORMATION - Ford Surprises Recording income.
Ford Motor Co.., Monday, recorded a revenue nearly a billion dollars in the third quarter and said it was consistent with "the effort to strengthen profit" in 2011 after years of painful losses.


Number two car maker in the U.S. that turned a profit reached 997 million U.S. dollars of losses was 161 million dollars in the same period in 2008, while continuing restructuring program to cope with declining sales amid world economic downturn is the worst this decade.

Profit of 26 cents per share, a big surprise to analysts who predicted the fall 12.

Income is derived after Ford managed to increase market share in North America, Europe, and South America as well as cut operating costs 4.6 billion dollars in the first nine months of this year.

Unlike rivals General Motors and Chrysler, Ford's management managed to overcome the economic crisis without having to ask for bankruptcy protection or require government assistance to the billions of dollars.

Ford debt restructured after four years only reached 26.9 billion U.S. dollars. The company is also struggling to convince union members to give the same concessions given to GM and Chrysler.

Ford plans to increase production again in the fourth quarter, after the strengthening of demand and more careful control of production that encourages dealers to stock the lowest level in more than a decade.

But car makers said they expect a stable market share after increasing 2.2 points to 14.6 percent in the United States and rose 0.6 points to 9.2 percent in Europe.

For the main markets in North America, the company booked operating profit before tax of 357 million dollars, the first quarterly profit since the first quarter of 2005.

Ford also reported operating profits of business in South America, Europe, Africa and Asia Pacific.

Ford said third-quarter revenue reached 30.9 billion U.S. dollars, down 800 million dollars from the same period last year.

Ford also managed to increase the cash position of menajdi 23.8 billion 13.4 billion at December 31, 2008.

Ford shares rose 7.43 percent to 7.52 dollars in trading Monday afternoon local time.