Ford reported third-quarter net earnings of $997m off revenue of $30.9bn. Ford North America posted a pre-tax profit of $357m, its first quarterly profit since the first quarter of 2005. Ford Europe, Ford South America and Ford Asia Pacific Africa all posted profits, as did Ford Credit.

After the market closed on Monday, Ford also announced that it was taking a number of steps to improve its balance sheet. It is selling a $2bn convertible bond deal and setting up a shelf programme to sell up to $1bn in common stock in the next few months. And the company has also launched an offer to pay back a quarter of the $10.7bn secured revolving loan it drew down earlier and extend the maturity of the remainder from 2011 to 2013 in return for added fees and a one percentage point increase in the interest rate.

• Ford earnings release

1 Jun 2009 -

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