Chrysler Group LLC reported preliminary net income of $1.7 billion for 2012, up from $183 million in 2011 and beating guidance provided to analysts. Full-year 2011 Adjusted Net Income(a) was $734 million, after adjusting for the $551 million loss on extinguishment of debt recognized in the second quarter of 2011. For the year, the Company reported revenue of $65.8 billion, an increase of 20 percent from a year ago, primarily due to higher vehicle shipments. Modified Operating Profit was $2.9 billion for the year, or 4.4% of revenue, up 47% from $2.0 billion in 2011; the change was due to strong sales and more favorable pricing, partially offset by an increase in the proportion of sales from passenger cars, including the Dodge Dart and Fiat 500, versus trucks and SUVs; increased research-and-development costs; and increased spending on advertising. Modified Operating Profit for the quarter was $711 million, a 40% increase from..
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