Fiat SpA posted a net profit in the first quarter of 2005 with $376.6 million compared to a net loss of $500 million last year. The gain was helped in part to the first 1 billion euro ($1.29 billion) installment of its settlement from GM. Fiat said net revenue declined 2.4 percent from 2004. In our calculations, all the profit was thanks to the infusion of money.

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