Complete Fourth
General Motors Ready to Announce Fourth Quarter Results
Finally after all the delays, General Motors Corp. has announced that it is ready to release its fourth quarter earnings on Wednesday. It should be noted that the automaker was suppose to report its fourth quarter results last January 30 but since it has to restate its earlier results it has requested for an extension.
The world’s biggest automaker and manufacturer of the popular GM headlight is restating some of its earlier financial reports to fix accounting errors due to deferred tax liabilities, hedging, and other items covering period from 2002 through 2006’s third quarter. The Detroit-based GM has already restated some of their results back to 2000.
GM had earlier stated that it would post its fourth quarter profit with record revenue, without stating the figures. GM has succeeded in cutting costs after it has convinced 34,300 US union workers to retire early since it plans to shut down 12 of its North American facilities by 2009.
Efraim Levy, a New York-based equity analyst at Standard & Poor’s with a “hold” rating on GM shares said that the fourth quarter results will show just “how much savings are getting to the bottom line. You may want to see steady progress.”
According to Autodata Corp., GM has been able to increase its fourth quarter US sales by 1.1 percent a year earlier to 925,460 cars and light trucks. However, the full-year sales decline by 8.7 percent to 4.07 million. To recover from its losses, Chief Executive Officer Rick Wagoner is increasing its sales in emerging markets such as China, Indian, and Russia.
GM has announced that it will release its quarterly earnings on March 14 at exactly 7 am Eastern time, followed by a 9:30 am conference call for reporters and analysts.
Before GM makes its official announcement, 12 analysts have already released their own predictions which Bloomberg has compiled. According to the forecasts of the 12 analysts GM profit per share excluding some cost would reach $1.22. For 2005, GM has reported for its final quarter a net loss of $6.66 billion or $11.79 a share.
GM for this year has gained 2 percent or 33 cents per share reaching $31.32 at 4:21 pm in the New York Stock Exchange composite trading. Since the end of 2004, GM has been reporting net losses in every quarter so it is expected that for the first three months of last year the automaker will be reporting a net loss. Before restating its earlier financial results the automaker has reported a loss amounting to $3.03 billion for the first three quarters of last year and a $10.6 billion loss for the year 2005.
The company’s fourth quarter results will include two months of earnings of its financial arm, the General Motors Acceptance Corp. which GM has sold 51% of its shares in a transaction that was completed last Nov. 30. It should be noted that GM has requested the Securities and Exchange Commission last March 2 to extend their deadline for its 10-K annual report for 2006 since it’s not yet finished with its restatement.
According to some analysts the recent delay may mean that GM have to pay some proceeds from the $14.4 billion sales of the GMAC stake to a group led by Cerberus Capital Management LP due to bad loans. Brian Johnson, a Lehman Brother analyst have written last Feb. 16 that GM may have spent as much as $950 million to cover the difference between the original value of GMAC and the value after bad loan losses. That is also the foreseen reason why the spokeswoman of the automaker and GMAC refused to comment when GM announced last March 1 that it would request for an extension.
Pete Hastings, a fixed income analyst at Morgan Keegan & Co. in Memphis, Tennessee said, “Maybe we’ll see the adjustment for subprime loans at GMAC.” Hasting also added that he is looking forward to examining the closing figures of GM’s balance sheet for both the quarter and year-end.
About the Author
Noah Scott is a 30 year old native of New Jersey, writer, and car fan – having grown up with both parents being auto enthusiasts. He works for an automotive consultancy firm and regularly contributes articles to car magazines.
Watching Series 4 starring Emma Wray and Paul Bown out 11th May
|
|
The Sopranos – The Complete Fourth Season (DVD, 2003… $35.99 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $9.08 |
|
|
Psych: The Complete Fourth Season (DVD, 2010, 4-Disc Set) $10.99 |
|
|
NEW Gossip Girl-Complete 4th Season $20.99 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) – Sealed – NIB!!! $15.53 |
|
|
NEW Everwood-Complete 4th Season $28.99 |
|
|
Everybody Loves Raymond -The Complete Fourth Season NEW $24.99 |
|
|
Buffy The Vampire Slayer Complete Fourth Season Four 4 – DVD Box Set SEALED NEW $15.99 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $5.58 |
|
|
FRIENDS: COMPLETE 4TH SEASON-DVD (NEW & SEALED) JENNIFER ANISTON $11.11 |
|
|
SMALLVILLE: COMPLETE 4TH SEASON-DVD TOM WELLING $9.89 |
|
|
Nip/Tuck – The Complete Fourth Season (DVD, 2007, 5-Disc Set) $5.00 |
|
|
Dukes of Hazzard – The Complete Fourth Season 4 (DVD, 2005, 9-Disc Set) New $12.99 |
|
|
Friends – The Complete Fourth Season (DVD, 2003, 4-Disc Set, Four Disc Set) $11.00 |
|
|
Nip/Tuck – The Complete Fourth Season ( Blu-ray Disc ) – NIP TUCK $10 TO START $10.00 |
|
|
Cheers – The Complete Fourth Season (DVD, 2005, 4-Disc Set) $5.24 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $4.82 |
|
|
The Sopranos – The Complete Fourth Season (DVD, 2003, 4-Disc Set, Silver Foil… $14.49 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $2.25 |
|
|
NCIS – The Complete Fourth Season (DVD, 2007, 6-Disc Set, Widescreen) $13.01 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $2.25 |
|
|
Sex and the City: The Complete Fourth Season DVD, 2003 $19.99 |
|
|
Sex and the City: The Complete Fourth Season DVD, 2003 $14.99 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $2.25 |
|
|
Charmed – The Complete Fourth Season (DVD, 2006, 6-Disc Set) $12.99 |
|
|
Criminal Minds: Complete Fourth Season (7Pc) Criminal Minds: Complete Fourth Sea $24.44 |
|
|
True Blood: The Complete Fourth Season (DVD, 2012, 5-Disc Set) PreOrder 05/29 $5.57 |
|
|
New Stargate SG-1 SG1 The Complete Fourth Season Four 4 $24.98 |
|
|
The Simpsons – The Complete Fourth Season (DVD, 2009, 4-Disc Set) $34.99 |
|
|
Good Times – The Complete Fourth Season (DVD, 2005, 3-Disc Set) $2.25 |
|
|
*BRAND NEW* ~ Sex and the City: The Complete Fourth Season (DVD, 2003, 3-Discs) $15.99 |
|
|
South Park – The Complete Fourth Season (DVD, 2004, 3-Disc Set) $1.04 |
|
|
The Big Bang Theory: The Complete Fourth Season (DVD, 2011, 3-Disc Set) $12.00 |
|
|
Reba – The Complete Fourth Season (DVD, 2009, 6-Disc… $17.90 |
|
|
NCIS – The Complete Fourth Season, Brand New $17.00 |
|
|
Magnum P.I. – The Complete Fourth Season (DVD, 2006) $4.20 |
|
|
Sex and the City: The Complete Fourth Season 4 (DVD, 2010, 3-Disc Set) $15.95 |
|
|
Penn & Teller: B*******! – The Complete Fourth Season (DVD, 2007, 3-Disc Set) $14.99 |
|
|
Complete LCD Screen Digitizer Assembly for iPod Touch 4 4G 4th Generation + Tool $57.25 |
|
|
Super Robot Wars(Taisen) 4 4th complete guide book/SNES $8.82 |
|
|
Road to Avonlea: The Complete Fourth Volume – DVD $79.98 |
|
|
THE VIRGINIAN: THE COMPLETE FOURTH SEASON – NEW DVD BOXSET $44.13 |
|
|
THE VIRGINIAN: THE COMPLETE FOURTH SEASON – NEW DVD BOXSET $47.13 |
|
|
ANGEL: THE COMPLETE FOURTH SEASON 22 Episode 6 Disc DVD Boxed Set – Fox 2006 $19.95 |
|
|
ACCORDING TO JIM: THE COMPLETE FOURTH SEASON [4 DISCS] [DVD NEW] $15.46 |
|
|
Two and a Half Men – The Complete Fourth Season (DVD, 2008, 4-Disc Set) $9.99 |
|
|
SOUTH PARK THE COMPLETE FOURTH SEASON dvd 3-disc box set Cartman Kyle Kenny Stan $6.00 |
|
|
EVERYBODY LOVES RAYMOND: COMPLETE FOURTH SEASON 24 Episode 5 Disc DVD Boxed Set $19.95 |
|
|
Scrubs – The Complete Fourth Season (DVD, 2006, 3-Disc Set) $12.95 |
|
|
FRIENDS: COMPLETE FOURTH SEASON 24 Episodes 4 Disc DVD Boxed Set – Warner 2003 $19.95 |
|
|
Wilton 2304-1050 101-Piece Cookie Cutter Set $11.15 Christmas, Halloween, Easter, Valentine’s Day…cookie cutters for every season, and more! With a complete set of letters and numbers, designs for cowboys, stars, cars and animals, you’ll be ready for any occasion. Durable plastic cutters come in a convenient storage container. Hand wash. (2-1/2 to 6-1/4)… |
|
|
The Taylor Swift Holiday Collection $5.99 6 Track limited edition release. 1. Last Christmas 2. Christmases When You Were Mine 3. Santa Baby 4. Silent Night 5. Christmas Must Be Something More 6. White Christmas… |
|
|
The 4 Complete Ed Sullivan Shows Starring The Beatles $9.95 BEATLES THE THE 4 COMPLETE ED SULLIVAN TV SHOWS… |
|
|
The Live Anthology: Ultimate Collector’s Edition Boxed Set (5 CDs + 1 Blu-ray + 2 DVDs + 1 LP) $37.99 The ultimate collector’s boxed set includes: - 62 tracks on 5 CDs including 14 exclusive tracks on the 5th disc only available in the deluxe box set. - DVD of 400 Days, a previously unreleased documentary film by director Martyn Atkins, made during the 1995 Wildflowers Tour - DVD of previously unreleased New Years Eve 1978 Santa Monica, CA concert. - Vinyl of re-mastered 1976 Official Live ‘Leg b… |
|
|
Lost: The Complete Fourth Season [Blu-ray] $27.40 All 13 episodes from season four–including “The Beginning of the End,” “Eggtown,” “Meet Kevin Johnson,” “Cabin Fever,” and the three-part season finale “There’s No Place Like Home”–are collected in a five-disc set. 10 hrs. total. Widescreen; Soundtracks: English 5.1 Uncompressed, Dolby Digital 5.1, Spanish Dolby Digital stereo, French Dolby Digital 5.1; Subtitles: English (SDH), Spanish, French;… |
|
|
Chuck: The Complete Fourth Season (DVD) $27.34 Description not available. |
|
|
Chuck: The Complete Fourth Season (Blu-ray Disc) $25.3 Description not available. |
|
|
Columbo – The Complete Fourth Season (DVD) $25.15 The LAPD`s most clever detective returns to solve more seemingly unsolvable murders in COLUMBO: THE COMPLETE FOURTH SEASON. Pete |
|
|
The Big Bang Theory: The Complete Fourth Season (DVD) $17.77 255 characters or less! |
|
|
Army Wives: The Complete Fourth Season (DVD) $21.71 Relive the heart-warming drama of one of America’s most beloved series with Army Wives: The Complete Fourth Seaso |
|
|
Frasier – The Complete Fourth Season $20.46 |
|
|
Supernatural – The Complete Fourth Season (DVD) $17.82 Dean (Jensen Ackles) and Sam Winchester (Jared Padalecki) are two brothers with a special talent. Well-versed in the supernatural after their father became convinced that their mother was captured by unholy spirits, Dean and Sam dedicated their young l… |
|
|
The Closer: The Complete Fourth Season (DVD) $17.78 Brenda Johnson (Kyra Sedgwick) arrives from Atlanta to lead the LAPD`s Priority Homicide Division, a special unit that deals with explosive high-profile criminal cases. Almost immediately, her mix of brassy toughness and Southern sass begins to rub the… |
|
|
JAG – The Complete Fourth Season (DVD) $15.53 6-Disc Set Like a small-screen version of A FEW GOOD MEN, the television series JAG delves into the world of military justice with a stirring blend of action and drama. Created by TV stalwart Donald Bellisario (MAGNUM P.I., QUANTUM LEA… |
|
|
Gossip Girl: The Complete Fourth Season (DVD) $16.42 This title serves up every episode from the fourth season of GOSSIP GIRL, a soap-opera set in the world of spoiled teenage socialites and their various romantic entanglements. |
|
|
Gilmore Girls: Complete Fourth Season (DVD) $15.42 255 characters or less! |
|
|
Scrubs: The Complete Fourth Season (DVD) $14.35 3 – Disc Set |
|
|
Friends – The Complete Fourth Season (DVD) $15.25 In addition to scoring one of the biggest surprise hits in television history, NBC generated a veritable pop culture phenomenon with its twentysomething sitcom smash FRIENDS. Set in New York City, the series chronicled the lives of six best friends as … |
|
|
Alias – The Complete Fourth Season (DVD) $18.31 255 characters or less! |
|
|
OZ: Complete Fourth Season $20.9 |
|
|
Doctor Who – The Complete Fourth Series (DVD) $50.47 The BBC continues its successful quest to rebrand the iconic DOCTOR WHO franchise with this fourth series of 21st-century episodes. David Tennant continues as the 10th incarnation of the Doctor, with Catherine Tate (who first appeared in the 2006 Chris… |
|
|
The Wire – The Complete Fourth Season (DVD) $26.47 Acclaimed HBO series THE WIRE centers on the drug culture of inner-city Baltimore. The series` storyline unfolds from the viewpoints of both the criminals lording the streets and the police officers determined to bring them down. In the show`s fourth s… |
|
|
Starsky & Hutch: The Complete Fourth Season $11.87 5-Disc Set The epitome of good cop/bad cop cool, this iconic 1970s TV show upped the ante on the level of violence and drugs on the small screen, and gave audiences an exciting crime-fighting team who complemented each other perfectly. |
|
|
Bewitched – The Complete Fourth Season (DVD) $14.84 4-Disc Set Elizabeth Montgomery plays Samantha, a witch who trades in her magical powers for marriage–or tries t |
|
|
CSI – The Complete Fourth Season (DVD) $12.37 In the highly successful television series CSI, Detective Gil Grissom (William Petersen) leads the Las Vegas Police Department’s |