Oh General!: GM's Fourth Quarter '05 Losses Total $4.8b

General Motors's North American losses in the fourth-quarter of 2005 defied even the least optimistic analysts' most dire predictions. The company posted an adjusted loss in the region of $1.2 billion, a reversal from a $449 million profit in the year-earlier period. Overall loss was $4.8 billion (a staggering $8.45 per share), with $3.6 billion directly related to assuming worker benefits from former division and current major supplier, Delphi. What could be worse, quarterly revenue took a 0.2 billion hit — from $51.4 billion last year to $51.2 billion, even as total vehicle sales were second highest of any year in the company's history, despite a 3.1% decline in North America.

General Motors Adjusted Loss Is $1.2 Billion [The Street.com]