DETROIT May 12 U.S.-based automaker Chrysler
Group LLC, a unit of Italian carmaker Fiat SpA, on
Monday reported a first-quarter net loss of $690 million because
of charges related to the merger of the two companies.
Chrysler took a $504 million non-cash charge on payments to
retire a note linked to a healthcare trust that until January
was the company's minority owner, and a $672 million charge for
payments to the trust, which is linked to the United Auto
Workers union in the United States.
Excluding those items, earnings were $486 million, compared
with $166 million a year earlier.
Chrysler maintained 2014 forecast that calls for net revenue
of about $80 billion and earnings of between $2.3 billion and
$2.5 billion, excluding special items.
Fiat issued its first-quarter results last Tuesday.
In January, Fiat bought the remaining shares owned by a
UAW-related healthcare trust and became the sole owner of
Chrysler. The newly merged company, Fiat Chrysler Automobiles,
is expected to be listed on the New York Stock Exchange in the
(Reporting by Bernie Woodall; Editing by Lisa Von Ahn)