Ford Motor Co. posted a $997 million net income in the third quarter and its first operating profit since early 2008. It expects to be “solidly profitable” in 2011, Bloomberg News reported.

The company reported a quarterly pretax profit of $1.1 billion compared with a $3 billion loss in the same quarter last year.

Ford cut incentives and sold a mix of more costly cars and trucks, Bloomberg said.

In other news, union workers at 12 Ford plants voted against proposed contract concessions that closely matched those given to Chrysler Group LLC and General Motors Co. earlier in the year when those companies exited form bankruptcy. Ford officials said that without the concessions the company would be at a financial disadvantage to the other auto makers.

The changes include a six-year ban on strikes over wages and benefits and freezing wages of new hires until 2015, Bloomberg said.

The Canadian Auto Workers union said it had reached a tentative three-year accord with Ford. The agreement includes a commitment for plants in Canada that may eventually account for 10% of Ford’s North American manufacturing output, Bloomberg said.

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