Chrysler Solidly in Black for Q2

Chrysler says net income reached $436 million in the second quarter, an $806 million improvement over year-ago, when the auto maker lost $370 million, according to preliminary results.

Excluding a $551 million charge year-ago to repay government loans, the earnings tally represents a $255 million, or 141%, gain from like-2011.

The tally brings net income to $909 million for first-half 2012.

Q2 revenue reached $16.8 billion, a 23% gain on like-2011’s $13.7 billion. Revenue totaled $33.2 billion for the year’s first half.

Chrysler says its modified operating profit of $755 million in the quarter, equaling 4.5% of revenue, was up 49% from prior year’s $507 million. The increase is attributable to strong volume and pricing, partially offset by an unfavorable shift to cars from trucks, enhanced vehicle content and increased research-and-development spending, the auto maker says.

Global vehicle sales totaled 582,000 in the quarter, up 20% from like-2011.

The auto maker finished June with $12.1 billion in cash, up from $10.2 billion year-ago and $11.3 billion at the end of Q1.