New York, January 27 (FinanceEnquiry.com) - The Ford Motor Company (NYSE: F) recorded its highest profit in 13 years, which was also its third-consecutive full-year profit, helped by robust sales in North America that more than made up for higher commodity costs and losses in its operations in other parts of the world.

In the fourth quarter, Ford made an accounting adjustment with a one-time gain worth $12.4 billion that boosted its 2011 profit to $20.2 billion. This was the second-highest earning ever for the automaker that made an operating profit of $6.2 billion for the year in North America, though it made a loss of $119 million in its operations in Europe and Asia-Pacific regions.

Ford’s overall profit was the equivalent of $4.94 a share, up from $1.56 a share a year ago when the company earned $6.6 billion. Its operating profit for the year, excluding the accounting change and other special items, was $8.8 billion for the year, or $1.51 a share, which was 6 percent higher than its operating profit in 2010 which was $8.3 billion, or $1.91 a share. 

Ford posted an increase in revenue of 13 percent to $136.3 billion. However, its profit margins went down to 5.4 percent, from 6.1 percent in 2010. The company reported an operating profit of $1.1 billion, or 20 cents a share in the fourth quarter, which was down from $1.3 billion, or 30 cents a share, a year ago. It posted a net income of $13.6 billion, which was the highest ever for a fourth quarter.