DaimlerChrysler AG says first-quarter net income fell 30% to $374 million, while overall operating profits plummeted 59% to $814 million as a result of restructuring costs at its ailing Smart GmbH unit and recall expenses for Mercedes-Benz. Smart's restructuring placed a negative drag of $1.04 billion on DC's Q1 balance sheet, with a $568 million charge taken for production facility realignments and another $198 million for cancellation of supplier contracts for the now defunct Smart SUV ...
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