DEARBORN, Michigan - Ford deserves its biggest gain in over a decade in 2010 is a robust vehicle sales and years of cost paid. But disappointing results of Q4 rattled investors Friday and lower sent shares of the company.
Ford shares fell 12 percent to $16.63 in late morning trading after the company missed expectations of analysts. Difficulties Ford showed faces the response even though it has a remake in the last four years.
Ford's net income amounted to $6.6 billion, or $1.66 per share last year, more than double the $2.7 billion, or 86 cents from 2009. Costs for debt reduction and setting its Mercury brand, Ford would $1.91 per share behind the $2.05 have earned analysts expected.
Ford's fourth quarter profit missed Wall Street forecasts. Net profit fell 79 percent to $190 million, or 5 cents per share. Results contain a large fee to reduce its debt. Without you Ford would have earned 30 cents per share, far below the 48 cents analysts expected.
Ford said that it warned updated investors on the one-off effects but does not hold, as you, decided to move back incentive spending in Europe, led to a decline in sales and profits there. The company said, also spent more marketing new products such as the Ford Explorer had anticipated in the fourth quarter, as some analysts.
For investors a string success for Ford interrupts the disappointing end of 2010. Company car sales and stocks price has increased enormously, has revived its reputation for quality and on Friday announced that US hourly employees profit sharing tests, which will receive $5,000 this year on average.
Four years ago, Ford of huge losses had booked a string and its future in doubt. It got a 23.5 billion US dollar loans by mortgaging his factories and other assets, including its blue oval logo. Then shed most of its brands, closed or sold a quarter of his works and cut of its global workforce of more than one-third. It also labour and health costs, plow the money sedan and Ford Edge crossover back into the design of well-preserved new products like the Ford Fusion.
But challenges remain, as investors showed Friday. Ford must fight to keep its sales grow, continue to pay off his huge debts and to salvage his flailing Lincoln brand. And it has high expectations.
"be 2011 2010 even better," said Ford CEO Alan Mulally.
Results of last year included $853 million in fees to the debt reduction. Ford reported a 339-million dollar charge for the setting of the Mercury brand. Ford announced last summer, it would stop producing the mark by the end of the year.
Debt fell from $ 33.6 billion to $14.5 billion in the year. This lowers Ford's interest payments from something more than a billion dollars.
Ford's U.S. sales jumped 20 percent last year - double the rate of industry - as an improvement economy spurred demand the company's F-series trucks and other vehicles.
Ford Chief Financial Officer Lewis booth forecast again the company a strong year new products, including the introduction of the new Ford focus in North America, Europe and Asia will have. During the recession cut the company vehicle development, he said.
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