Summary Box: Chrysler 1st profit since bankruptcy

AP News
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Posted: May 02, 2011 4:40 PM
Summary Box: Chrysler 1st profit since bankruptcy

CHRYSLER COMEBACK: Chrysler Group LLC said Monday it earned $116 million in the first quarter. It was the company's first profit since 2006, and comes a little less than two years after it emerged from bankruptcy protection.

DRIVING FACTORS: Chrysler's worldwide sales rose 18 percent, thanks to the improving economy and new products such as the Jeep Grand Cherokee. Buyers also paid more. Revenue rose 36 percent to $13.1 billion.

WHAT'S NEXT: Chrysler plans to pay off $7.5 billion in government loans soon, ahead of an expected public stock offering later this year or in 2012.