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Chrysler Reports Profit
Chrysler Group LLC netted $436 million (€357 million) in the second quarter of this year compared with a $370 million (€303 million) loss a year earlier.
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Chrysler Group LLC netted $436 million (€357 million) in the second quarter of this year compared with a $370 million (€303 million) loss a year earlier.
Modified EBIT (earnings before interest, tax, depreciation, amortization, pension obligations and special items) rose 10% to $1.4 billion (€1.1 billion) in the latest quarter.
Chrysler attributes the improvement to strong volume and pricing, partially offset by an unfavorable mix because of the shift in American demand to cars from higher-margin trucks.
Revenue jumped 23% to $16.8 billion (€13.8 billion) in the quarter. Worldwide sales climbed 20% to 582,000 vehicles.
Chrysler affirms its full-year outlook for about $65 billion (€53.3 billion) in revenue on global sales of as many as 2.4 million vehicles. The company also expects net income of $1.5 billion ($1.2 billion) in 2012 and free cash flow of at least $1 billion (€819 million).
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