Filed under: Ford, Earnings/Financials Ford just announced its full year financial results for 2006, and the picture is really ugly. From October through the end of the year alone, it consumed $5.8 billion. For the full year it expended $12.7 billion more than it took in. Last year was one of the worst years in Ford's history, with two major stabs at a restructuring plan, CEO Bill Ford stepping down, borrowing more than $25 billion to fund operations and announcements about closing 16 factories and eliminating more than 44,000 jobs. Although the numbers look terrible for Ford, $9.9 billion of it was for one-time charges associated with buyouts, plant closures and other restructuring costs. Losses from operations were a "mere" $2.8 billion. Another nasty figure is the revenue, down to $160.1 billion from $176.9 billion the year before. The team in Dearborn is feeling some major pain from the crash in sales of their cash cow SUVs like the Explorer and Expedition. The full Ford press release is after the jump. [Source: Ford]Continue reading Ford burns $12.7 BILLION in 2006! Permalink | Email this | Comments BOLD MOVES: THE FUTURE OF FORD A new documentary series. Be part of the transformation as it happens in real-time More...
