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To: Johnny Canuck who wrote (40512)	12/22/2003 5:17:19 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69233

7:15AM Ford Motor boosts FY03 EPS outlook (F, VC) by Michael Baron NEW YORK (CBS.MW) -- Ford Motor Co. (F) boosted its 2003 outlook for earnings from continuing operations to $1.05 to $1.10 per share from its prior projection for a profit of 95 cents to $1.05 per share. "The increase in our 2003 earnings outlook primarily reflects continued strong cost savings, strong unit revenue from the new F-150 and other vehicles, and the ongoing strength of Ford Motor Credit's operating results," said Don Leclair, Ford's CFO, in a press release. Eighteen analysts polled by Thomson First Call are currently looking for earnings of $1.07 per share for the year. The company also said it has agreements with major supplier Visteon (VC) that include near-term price reductions and "provide a basis for fully competitive pricing to Ford over time." The deals, which also build on negotiations between Ford and the United Auto Workers union that provide a framework for competitive wages and benefits for Visteon's future UAW workers, will result in a charge of $1.6 billion for Ford in the fourth quarter. The charge primarily reflects the transfer of certain post-retirement health care and life insurance benefit liabilities to Ford from Visteon. Ford also expects to record about $150 million in charges related to the disposition of several non-core businesses, and new contributions of $1 billion to its U.S. pension fund and $6 billion to its voluntary employees' beneficiary association trust in the quarter. The stock closed Friday at $15.24, up 32 cents.