DEARBORN, Mich. - Ford Motor Co. posted a $5.07 billion loss for the fourth quarter of 2001, mostly due to heavy costs related to its recently-announced restructuring plan.
For the full year, the world's second biggest automaker said Thursday it lost $5.45 billion, its first annual loss since 1992.
Ford's loss for the October-December quarter amounted to $2.81 a share. During the last three months of 2000, Ford earned $1.08 billion, or 57 cents a share.
But the quarterly results narrowly beat Wall Street expectations if one-time items are excluded from the comparison.
Those costs included $4.1 billion in restructuring costs and an additional $102 million in accounting charges.
Excluding those items, Ford's loss was $860 million, or 48 cents a share, for the October-December period.
The consensus forecast of analysts polled by Thomson/First Call was that Ford would lose 50 cents a share excluding special costs.
Revenue fell to $41.15 billion in the quarter from $42.59 billion a year ago.
For all of 2001, Ford lost $3.02 per share, compared with earnings of $3.47 billion, or $2.30 a share, in 2000.
This was Ford's first losing year since 1992 when Ford lost $7.4 billion, in large part due to almost $7 billion in accounting charges.
Revenues for 2001 were $162.4 billion, down 5 percent from $170.1 billion a year ago.
Ford said it sold six percent fewer vehicles in 2001 than it did the year before.
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