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Updated: 10:53 a.m. Thursday, Feb. 24, 2011 | Posted: 10:53 a.m. Thursday, Feb. 24, 2011

GM posts 4 straight profitable quarters

Staff Report

General Motors Co., the 60 percent owner of the DMAX truck engine plant in Moraine, said Thursday it saw $4.7 billion in net income attributable to common stockholders for its first full year of operations.

Net income attributable to common stockholders just for the fourth quarter of 2010 was put at about $500 million.

Revenue for the calendar year was $135.6 billion, the automaker said. Revenue for the final quarter of 2010 was put at $36.9 billion.

“Last year was one of foundation building,” Dan Akerson, GM chairman and chief executive, said in a statement. “Particularly pleasing was that we demonstrated GM’s ability to achieve sustainable profitability near the bottom of the U.S. industry cycle, with four consecutive profitable quarters.”

GM said it would pay profit sharing to about 45,000 eligible GM U.S. hourly employees and about 3,000 eligible GM Components Holdings employees. The average profit sharing payout will be $4,300 for GM employees and $3,200 for GMCH employees, the automaker said.

DMAX, a maker of diesel truck engines, employs more than 500 people in a Dryden Road plant. Isuzu has a 40-percent stake in the operation.

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