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Ford with a loss of 129 million dollars are spent 7.7 billion dollars |
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Sunday, 09 November 2008 |
U.S. car manufacturers Ford announced a loss of 129 million dollars for the third quarter of the year. At the same time for the same period spent cash stocks worth 7.7 billion dollars, transmit AP.
The loss amounted to 6 cents per share, which is rather less than lost in the comparable period year earlier - 19 cents per share, or a total of 380 million dollars. If one removed effects, loss of Ford is 1.31 dollars per share , which is more than analyst expectations of 94 cents per share.
Pre-tax loss from operations of Ford amounted to 2.7 billion dollars, but it was partially compensated by profits amounting to 2 billion for the transfer of pension liabilities on the health program for workers to trust, led by United Auto Workers.
The production of cars from Ford globally is bring losses before taxes of 2.9 billion dollars, which is significantly worse than achieved a year ago loss of 362 million dollars. Sales fell 22 percent from 41.1 to 32.1 billion dollars, mostly because of low volumes sold under brands Jaguar and Land Rover.
Interesting in company reports is that of Sept. 30 cash were 18.9 billion dollars, which aims to 7.7 billion dollars less than the end of the second quarter, commented AR. In the second quarter costs exceeded revenue by a lot less - 2.1 billion dollars.
Problems that are illegal automotive sector will compel the leadership of the company to shorten 2 260 people from the administrative staff in North America. According to analysts tracking the automotive sector by close to Ford if the situation does not change, the company may declare bankruptcy around 2010. |
Money 
