FORD CREDIT EARNS $451 MILLION IN THE FIRST QUARTER OF 2011*
Ford Motor Credit Company reported net income of $451 million in the first quarter of 2011, a decrease of $77 million from a year earlier. On a pre-tax basis, Ford Credit earned $713 million in the first quarter, compared with $828 million in the previous year. The decrease in pre-tax earnings is more than explained by lower market valuation adjustments to derivatives and lower receivables volume.
Ford Motor Credit Company reported net income of $451 million in the first quarter of 2011, a decrease of $77 million from a year earlier. On a pre-tax basis, Ford Credit earned $713 million in the first quarter, compared with $828 million in the previous year. The decrease in pre-tax earnings is more than explained by lower market valuation adjustments to derivatives and lower receivables volume.
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Ralph Paglia
Vice President
Tier 10 Marketing
cell: 505-301-6369
fax: 801-340-8918
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