Local public firms post improvements.(News)

Crain's Detroit Business, March, 2005 by Merx, Katie

Byline: Katie Merx Cumulative 2004 earnings for the region's publicly held companies were up over the year earlier, even before Troy-based Kmart Holding Corp. has reported its net income. With 34 nonautomaker companies reporting fiscal year-end results so far, cumulative net income for the region was up 5 percent in a year-over-year comparison.

With automakers Ford Motor Co. (NYSE: F) and General Motors Corp. (NYSE: GM) added into the mix, net income was up 45 percent year-over-year, largely because of a $3 billion gain at Ford. For the fourth quarter, results were in from 44 nonautomaker companies; 10 of those companies report fiscal years that do not end Dec. 31. For the fourth quarter, net income rose 178 percent over the same period in 2003. With...

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