Chrysler Makes Record Profits

Date 1998/10/13 0:00:00 | Topic: Miscellaneous

The press release says it all...

Chrysler Corporation today announced record third-quarter 1998 net earnings of $682 million, or $1.05 per common share ($1.02 per diluted common share). Third-quarter 1997 net earnings were $441 million, or $0.66 per common share ($0.65 per diluted common share).


"Chrysler's results in the third quarter were outstanding," said Chrysler Chairman Robert J. Eaton. "It would have been easy for our people to become distracted by all the merger activities. But, they have remained focused on what's become a real dogfight in the marketplace and brought home record results in the industry's toughest quarter.

"Our merger with Daimler-Benz is about a month away. The great job done by all of our employees, dealers and suppliers has built fantastic momentum as we move toward the birth of DaimlerChrysler," Eaton added. "We know, however, that even after the merger is completed, we cannot afford to lose sight of our current business plans. We must redouble our efforts not only to find synergies within the new organization, but also to produce results.

"While incentives remain high, and overall market conditions around the world are tough, we continue to maintain a strong showing -- a testament to our product strength in the marketplace.

"This is evidenced by the addition of the new 1999 Jeep® Grand Cherokee to the lineup and the continued strong performance of Dodge Durango, Ram Quad Cab, Intrepid, Chrysler Concorde, LHS, 300M and our other products.


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