Ford Otosan Fourth-Quarter Profit Drops 21%, Missing Estimates
February 22, 2012, 2:29 AM ESTBy Aydan Eksin
Feb. 21 (Bloomberg) -- Ford Otomotiv Sanayi AS, the Turkish unit of Ford Motor Co. in partnership with Koc Holding AS, reported a 21 percent decline in fourth-quarter profit, missing estimates.
Net income fell to 155.8 million liras from 196 million liras in the fourth quarter of 2010, calculated by subtracting full-year earnings reported to the Istanbul Stock Exchange today from nine-month profit announced earlier. The company was expected to earn 190.6 million liras, according to the average of 15 analyst estimates compiled by Bloomberg.
To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net
To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net
