On Friday, July 23, the Ford Motor Company reported earnings of $2.6 billion for the second quarter and said it anticipated having more cash on hand than debt by the end of 2011.

The report marks the fifth quarter of consecutive earnings for the company and includes the best figure Ford has posted in more than six years.

Ford, the only automaker that did not file bankruptcy in 2009 or receive federal assistance, has experienced a a steady recovery, with better sales and market share in the United States even with the lingering recession.

The company predicted a second-half of the year profit for 2010 at a level less than the $4.7 billion earned in the first six months of the year, but did voice an expectation for even stronger results in 2011.

With the exception of special items, Ford had a before-tax earning of $2.9 billion. Revenue totaled $31.1 billion, an increase of 14 percent over 2009. The company's automotive operations earned $2.1 billion, including $1.9 billion in North America.

In a conference call with reporters, Ford CEO Alan R. Mulally said, "We are ahead of where we thought we"d be after this excellent first half. The driving forces behind our progress include our new products and our leaner global structure."