GM Reports Large Net Profit - Cleveland 19 News Cleveland, OH

GM Reports Large Net Profit

DETROIT (AP) -- General Motors has reported a net profit of 950 (m) million dollars for the fourth quarter of 2006. It is G-M's first quarterly profit in two years. For the full year, G-M lost two (b) billion dollars. That's compared with its restated ten (b) billion-dollar loss in 2005.

The fourth-quarter results include 770 (m) million dollars in special items from the sale of a 51-percent stake in its financial arm, G-M-A-C. The Detroit-based company says it would have made 180 (m) million in the quarter without the sale proceeds.
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