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Chrysler Q3 Net Income: $212 Million

by Bill Cawthon on

Chrysler’s modified operating profit of $483 million more than doubled the $239 million from the third quarter of 2010: quarterly net income of $212 million was up from a net loss of $84 million in Q3 2010.

Third quarter net revenue was $13.1 billion, 19% ahead of the same period last year.

Chrysler Group ended the quarter with $9.5 billion in cash versus $10.2 billion at June 30, 2011

The Company reported a Modified Operating Profit of $483 million for the quarter, or 3.7 percent of net revenue, up from $239 million, or 2.2 percent of net revenue, in 2010. Modified Operating Profit benefited from increased sales volume and improved pricing and mix, partially offset by increased advertising and industrial costs.

“In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009. And in October, together with the United Auto Workers, we crafted a solid four-year contract that will support us in our growth plans and significantly reward our employees for their contribution to the revival of Chrysler,” said Chrysler CEO Sergio Marchionne. “This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat.”

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

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