Ford reports preliminary first quarter 2007 financial results

Ford Motor Company today reported a net loss of 15 cents per share, or $282 million, for the first quarter of 2007. This compares with a net loss of 76 cents per share, or $1.4 billion, in the first quarter of 2006. Ford’s first-quarter loss from continuing operations, excluding special items, was 9 cents per share, or $171 million, compared with a profit of 12 cents per share, or $223 million, in the same period a year ago. Special items, which primarily reflected the impact of restructuring efforts, reduced pre-tax results by $113 million, or 6 cents per share, in the first quarter. Ford’s first-quarter revenue was $43 billion, up from $40.8 billion a year ago. The increase primarily reflected mix improvement and favorable currency exchange, partially offset by lower volume.