DEARBORN (AP) - Ford says it lost $1.2-billion in the first quarter. Revenues were down from a
year ago as the company embarked on a huge North American restructuring effort.

On a per share basis, the loss was 64 cents a share.

In the year ago quarter, Ford earned more than a billion dollars.

The latest showing included a $1.7-billion charge, or 61 cents a share associated with the restructuring.

The plan calls for the reduction of up to 30,000 jobs and the closing of 14 facilities by 2012.

Excluding one-time items, Ford says it earned $458-million or 24 cents a share.

Ford's North American has been struggling with declining sales and high fixed costs.

 

Not good for my Ford stock.

at least I'm getting just over 5% on the dividend.

 

How can they continue to produce cars when they are loosing so much? Doesnt make sense to me.

 

You missed one key item:

There was $1.7 billion restructuring in restructuring costs.

This went into severence packages, money to wind down factory operations, and everything else associated with their restructuring and associated layoffs.

Being that Ford lost $1.2 billion this quarter, their auto business made a half billion ($500K) this quarter profit.

Even with this loss, it's pretty clear that Ford is on the right track...financially.... and will be on a pretty impressive upswing when it's over, or mostly done.

Not sure about about it being the right track as far as enthusiast (beyond Mustangs) are concerned.

 

A can see a Mustang based and priced V6/V8 sedan helping Ford like the 300 did the DCX. To bad they scraped plans for that car.