April 27, 2010 10:20 AM, EDT

Ford Reports $2.1 Billion 1Q Profit

Ford Motor Co. Tuesday posted a $2.1 billion first-quarter profit and said it would be profitable this year, the Associated Press reported.

Net income per share was 50 cents for the quarter, compared with last year, when the automaker lost $1.4 billion, or 60 cents per share, at the height of the recession.

Revenue rose 15% to $28.1 billion, and Ford reported an 84% sales increase in China. The quarter was its fourth straight positive quarter and its highest quarterly profit in six years, AP reported.

“We remain cautiously optimistic about positive signs emerging in the global economy while knowing the recovery is fragile and the global auto industry continues to deal with excess capacity,” Chief Executive Officer Alan Mulally said in a statement.

The automaker also said it was boosting North American production in the second quarter by 9% over the first quarter, to 625,000 vehicles.

Ford was the only Detroit-area automaker not to accept U.S. government aid and stay out of bankruptcy protection last year, gaining market share from rivals General Motors Co. and Chrysler Group LLC, AP said.