Ford Reports a Net Profit of $750 Million for Second Quarter 2007

Guess it is time for them to take a break at a Virginia bed and breakfast. Ford Motor Company today reported a net profit of 31 cents per share, or $750 million, for the second quarter of 2007. This compares with a net loss of 17 cents per share, or $317 million, in the second quarter of 2006.

It has been quite a while since Ford showed up in positive numbers so this is a bit surprising.

Ford's second-quarter revenue was $44.2 billion, up from $41.9 billion a year ago. The increase primarily reflected currency exchange, mix and net pricing improvements, partially offset by lower volume.

Ford's second-quarter profit from continuing operations, excluding special items, was 13 cents per share, or $258 million, compared with a loss of 6 cents per share, or $118 million, in the same period a year ago.**

Special items - which primarily reflected the sale of Aston Martin and the recognition of previously deferred gains on certain hedges at Jaguar and Land Rover - increased pre-tax results by $443 million in the second quarter. read more