DaimlerChrysler first-quarter net income plunged to $US641 million from $US2.7 billion a year ago. However, net income for the first quarter of last year included one-time effects, in particular the tax-free income from the sale of shares in T-Systems ITS. Earnings per share in Q1 2003 were $0.63 (Q1 2002: $2.71, including one-time effects of $2.17). Operating profit was $1.5 billion, an increase of $420 million, or 38%, against Q1 2002.