Ford announced on Thursday that it posted a net gain of $100 million during the first quarter of 2008. That gain comes off a total revenue of $43.5 billion. In comparison, during the same time frame last year, Ford posted a net loss of $282 million on revenue of $43 billion.
While Ford’s North American operations continue to improve, its operations were still in the red. According to Automotive News, Ford posted a North American pre-tax loss of $45 million, which is a significant improvement over the $613 million loss a year ago.
“The improvement reflected cost reductions of $1.2 billion, including lower structural and product costs,” Ford said in a statement.
Ford of Europe also saw some significant gains. In Europe, Ford posted a pre-tax gain of $739 million on $10.2 billion in revenue, well above the $219 million in pre-tax gains — on $8.6 billion in revenue — the company saw last year.
