(AUBURN HILLS, Mich.) -- Chrysler is back in business. After suffering a deep loss the year before, and requiring billions as part of a massive taxpayer-funded bailout to stay alive, the automaker reported on Wednesday it ended 2011 with a net income of $183 million.
The gain marks a major turnaround for the company, which saw a net loss of $652 million in 2010. The net income comes even after Chrysler paid $551 million in outstanding obligations to the U.S. Treasury and Canadian governments.
"The house is in good order. We are proud of the work we’ve done," said Sergio Marchionne, chairman and CEO of Chrysler Group LLC, in a statement. "Now we greet a new year of high expectations with our heads down, forging ahead and focused on executing the goals we’ve set for ourselves as a company."
Along with the net income, the company also said its 2011 net revenue rose 31 percent from the prior year to $55 billion.
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