From the FINANCIAL TIMES:
Chrysler reported an operating profit of $143m and said it generated $1.5bn of cash in the first quarter, and was on track to break even in 2010 as it unveiled its first financial results since exiting bankruptcy protection in an alliance with Fiat last June.
The US carmaker reported a net loss of $197m for the first quarter of this year, and revealed for the first time a net loss of $2.7bn in the fourth quarter of 2009.
Sergio Marchionne, who heads both Chrysler and Fiat, said the US carmaker’s improving results served as a “concrete indication” that the 2010 targets he had set for Chrysler were achievable…
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