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Monday, November 16, 2009
GM Quarterly Adjusted EBIT Loss Was $261 Million
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- General Motors Co. said Monday its third-quarter adjusted loss before interest and taxes was $261 million on a net revenue of $26.4 billion. For the period ended Sept. 30, the Detroit carmaker said its cash and marketable securities totaled $42.6 billion, including $17.4 billion held in in escrow from the U.S. Treasury and Export Development Canada. GM's total debt as of Sept. 30 was $17 billion, and the company said it would repay $1.2 billion to the national governments in December. Looking ahead, GM expects fourth-quarter sales to moderate now that the U.S. "Cash for Clunkers" program has ended, followed by modest growth in 2010.
Copyright © 2009 MarketWatch, Inc.
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