DETROIT (Reuters) - General Motors Co posted a fourth-quarter adjusted profit slightly above expectations and its first full-year earnings since 2004.
The top U.S. automaker reported fourth-quarter net income of $510 million after paying dividends on preferred shares, or 31 cents per share, down from the pace of earnings in the first three quarters of 2010 on higher costs to launch new vehicles and a continuing drag from losses in its European operations.
After adjusting for a loss of 21 cents per share on the purchase of preferred shares that had been held by the U.S. Treasury, adjusted earnings per share were 52 cents.
(Reporting by Kevin Krolicki; editing by John Wallace)
