GM Reports Preliminary Third-Quarter Financial Results

General Motors Corp. reported improved preliminary financial results for the third quarter of 2006. The company posted a profit on an adjusted basis, excluding special items and generated its third consecutive quarter of record revenue.

by Staff

October 25, 2006

1 min to read

DETROIT—General Motors Corp. reported improved preliminary financial results for the third quarter of 2006. The company posted a profit on an adjusted basis, excluding special items and generated its third consecutive quarter of record revenue.

GM reported a net loss of $115 million or $.20 per share, for the third quarter of 2006, compared with a loss of $1.7 billion or $2.94 per share for the quarter one year ago. The net loss for this year’s third quarter included $644 million in charges for special items, including goodwill impairment at GMAC and an increase to the charge associated with Delphi’s restructure.

GM reported 2006 third-quarter net adjusted income, excluding special items, of $529 million, or $.93 per share diluted, on revenue of $48.8 billion. These results represent a $1.6 billion improvement from the loss of $1.1 billion one year ago.

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