Thur 10:45 am: GM posts strong year-end profits

Tribune Chronicle

General Motors Co. this morning announced the 2012 calendar-year represented the company’s third straight year of profitability.

GM officials reported that revenue increased to $152.3 billion, about 1 percent more than revenue from the previous year, still profits were down slightly, due to “unfavorable special items,” GM officials reported to stockholders this morning.

Full year earnings before interest and tax adjustments was reported at $7.9 billion. That compares to $8.3 billion for 2011.

“We recorded another solid year in 2012 as we grew the business, delivered a third straight year of profitability and took significant actions to put the company on a solid path for future growth,” said Dan Akerson, chairman and CEO. “This year our priorities will be executing flawless new vehicle launches, controlling costs and delivering more vehicles to our customers at outstanding value.”

Read more in Friday’s Tribune Chronicle.