NEW YORK (CNNMoney) -- Chrysler Group on Monday reported its first quarterly profit since 2006, marking an important milestone in the turnaround in the U.S. auto industry.
The company, which went through a federal bailout and bankruptcy in 2009, earned $116 million in the first quarter, compared to a net loss of $197 million a year ago.
The last time Chrysler reported a profit was in the second quarter of 2006, when it was a unit of DaimlerChrysler.
Revenue soared 35% to $13.1 billion, as both sales volume and pricing improved. The company sold 18% more vehicles worldwide.
Chrysler Group: First profit in five year - May. 2, 2011
The company, which went through a federal bailout and bankruptcy in 2009, earned $116 million in the first quarter, compared to a net loss of $197 million a year ago.
The last time Chrysler reported a profit was in the second quarter of 2006, when it was a unit of DaimlerChrysler.
Revenue soared 35% to $13.1 billion, as both sales volume and pricing improved. The company sold 18% more vehicles worldwide.
Chrysler Group: First profit in five year - May. 2, 2011