DETROIT, MICHIGAN  --  Cost cuts and an increased market value has resulted in Ford Motor Company posting a $1.3 billion profit in the third quarter.  It was the automaker's first profit since the second quarter of 2007 and its first quarterly profit in North America since the first quarter of 2005.  The company had posted losses totaling $30 billion dollars from 2006 through last year, but was the only major U.S. automaker not to file for bankruptcy.

The profit announcement caused Ford stock to rise nearly 9% in early trading on Wall Street.  Company officials say they expect Ford to be "solidly profitable" by 2011.
  

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