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DaimlerChrysler's Q2 Earnings Rise

July 18, 2002

DaimlerChrysler posted healthy looking Q2 financial resultson July 18. Net Income excluding one-time effects rose to $1.2 billion (Q2 2001: $0.5 billion) and Earnings per Share improved to $1.19 (Q2 2001: $0.52). Operating Profit excluding one-time effects increased to $1.9 billion (Q2 2001: $0.7 billion). According to the company, the Chrysler unit was mostly behind the Q2 improvement. They reported Chrysler Group achieved an Operating Profit of $777 million in the second quarter of 2002, compared to a loss of $146 million in the second quarter of the previous year. DaimlerChrysler says the improvement is due to the effects of the 'Turnaround Program' (restructuring operations).
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