GM's decline in profit in 1st Qtr after recall costs

DETROIT, 24 Apr-General Motors announced on Thursday a quarterly profit less after a massive recall due to defects in ignition keys that are related to at least 13 deaths, but the results still were above Wall Street expectations due to strong pricing of their vehicles, especially in North America.
First-quarter net income fell to $ 108 million, or $ 0.06 per share, compared with 873 million, or 0.58 dollar per paper, in the same period of the previous year. The latest quarter includes costs of recall of 1.3 billion dollars, or $ 0.48 per share.
Excluding a charge mainly due to devaluation of the Venezuelan currency, GM had profit of $ 0.29 per share, well above the 0.04 dollar per role expected by analysts, according to a survey from Thomson Reuters I/B/E/s.
(By Ben Klayman and Bernie Woodall in Detroit)