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Ford Reports $997 Million Third-Quarter Profit

Ford Motor Company has reported a profit of $997 million for the third quarter of 2009, including a $357 million profit for its North American division, the first quarterly profit for the division since the first quarter of 2005. The company says in a statement that it ended the quarter with $23.8 billion in cash, an improvement of $2.8 billion. "Our solid product lineup is leading the way in all markets," says Alan Mulally, Ford's president and CEO. "While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger." The company says it expects to be solidly profitable in 2011 with a positive operating cash flow. Ford was the only American auto company that did not accept bailout funds from the federal government.

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