Posts Tagged ‘profit’
Ford, Starting Lucky Bag.
Ford Motor Co, booked revenue of nearly U.S. $ 1 billion in the third quarter.This is in line with efforts to strengthen profitability in 2011 after years of losses. Number-two carmaker in the U.S. that turned a profit of U.S. $ 997 million. Previously, Ford lost $ 161 million in the same period in 2008.
Gain of 26 U.S. cents per share to big surprise to analysts who predicted the U.S. dollar down 12 cents. Revenue was obtained after Ford managed to increase market share in North America, Europe and South America as well as cut operating costs of U.S. $ 4.6 billion in the first nine months of this year. ”Our revenues in the third quarter clearly shows Ford has made tremendous progress, even though the economy experienced a prolonged slump,” said the automotive company’s CEO, Alan Mulally, in a teleconference with analysts and reporters. ”While we still face challenges that stretch along the way, we transform ourselves into work and our underlying business to continue to grow stronger,” he said. Unlike rivals General Motors and Chrysler, Ford’s management succeeded in overcoming the economic crisis without having to ask for bankruptcy protection or in need of government assistance to billions of U.S. dollars. Ford’s debt load after restructured four years just to reach U.S. $ 26.9 billion. The company also convince union members to give the same concessions given to GM, and Chrysler.
Philips net profit, down 94 Percent
Philips, a big electronics companies from the Netherlands, reportedly earned a net profit 45 million euros in the second quarter of 2009 or fall 94 percent over the same period last year. However, the result was higher than analysts predicted earlier that contact Dow Jones Newswires, who predicted net loss after a 125 million euro net profit 732 million euros in the second quarter 2008.
Philips turnover spent 5.23 billion euros in second quarter 2009 are down 19 percent from 6.46 billion euros in the same period last year. This continued weakening market conditions.”We do not see a significant development in the consumer and professional markets in the last three months,” said Chief Executive Gerard Kleisterlee.He added, “During the quarter, we began to see the positive impact of our financial policy is strict.”Philips announced in January that the company wants to stop the 6000 employees around the world to reduce the impact of global crisis.
