Ford Posts $3.0 Billion Q4 Net Income, $8.6 Billion In 2013

#Ford, #Ford

Ford Motor Company finished 2013 on a high note, posting net income of $3.0 billion in the fourth quarter of 2013 and total net income for the year of $8.6 billion. That's up from Ford's net income of $5.7 billion in 2012, and comes on full-year revenue of $146.9 billion.

Although Ford's fourth-quarter net income was lower than in the fourth quarter of 2012, it marked the 18th consecutive quarter in which Ford has posted a positive profit. The strong results came as Ford finished the year with sales up 10.8 percent compared to 2012.

As a result of the strong financials, Ford plans to distribute profit-sharing checks to approximately 47,000 hourly workers in mid-March. Depending on an employee's hours, those checks will be around $8800 per worker.

Within North America, Ford reported a full-year pre-tax profit of $1.7 billion. That was down $200 million compared to 2012, which Ford primarily attributes to a Ford Escape recall that cost the automaker $300 million. In Europe, meanwhile, Ford continued to lose money, but its full-year pre-tax loss of $571 million is an improvement of $161 million compared to 2012. Even though the European new-car market contracted, Ford says that its profit margin increased -- to -5.8 percent.

Ford also said today that it produced 6.4 million vehicles worldwide last year, of which 3.1 million were assembled in the U.S.

Well that is good news. Now gentlemen can you please take some of those profits and design and build a Lincoln worthy of the name?

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