General Motors Corp. said Thursday fourth-quarter net loss widened to $9.6 billion, or $15.71 a share, from a loss of $1.5 billion, or $2.70 a share in the year-ago period. Adjusted loss totaled $5.9 billion, or $9.65 a share compared to net income of $46 million, or 8 cents a share in the year-ago period. Revenue for the three months ended Dec. 31 fell to $30.8 billion from $46.8 billion. Analysts expected a loss of $6.91 a share on revenue of $35.5 billion, according to a survey by FactSet Research. "We expect these challenging conditions will continue through 2009, and so we are accelerating our restructuring actions," said CEO Rick Wagoner. "At the same time, we are continuing our commitment to exciting, fuel-efficient cars and trucks, and the leadership in advanced propulsion technology." GM anticipates receiving a "going concern" opinion from its auditors in the 2008 10-K. GM and its auditors must determine whether there is substantial doubt about GM's ability to continue as a going concern.
