In Brief : Chrysler Earnings Jump 23.8%

ysler Corp.’s fourth-quarter earnings jumped 23.8% higher than the same period last year, the auto maker announced today.

The nation’s third-largest auto maker reported an after-tax profit of $433.6 million, or $1.85 a share, in the three months ended Dec. 31. That compared with earnings of $350.2 million, or $1.57 a share, in the fourth quarter of 1987.

Revenue totaled $9.69 billion, up 13.6% from $8.53 billion in the corresponding 1987 quarter.

For the full year, Chrysler had a profit of $1.05 billion, or $4.66 cents a share, down from $1.29 billion, or $5.90 a share, in 1987. Revenue for the year rose to $35.5 billion from $29.3 billion the previous year.

The 1988 results were reduced by $93.1 million due to a $150-million charge for previously announced plant closings in Chrysler’s Acustar parts subsidiary.

Chrysler Chairman Lee A. Iacocca said the company achieved its key objectives during the year, including completion of its merger with American Motors Corp., increasing its car and truck market share and finishing the year with strong earnings, “which moves us into 1989 with a lot of momentum.”

Chrysler said its share of the U.S. car market rose to 11.3% from 10.8% in 1987. Chrysler’s share of the truck market rose to 19.4% from 18.3% in 1987.