Ford Motor Company said on Friday it was expecting 2003 net income of about 70 cents a share, well above analysts’ consensus estimates, Reuters reported.

Ford chief financial officer Allan Gilmour said the company was on track with its cost-cutting plan, that its automotive unit would have break-even results in 2003 and that Ford’s credit arm would pay dividends to the parent company, Reuters said.

Based on those factors, “we expect our net income for the full year to be approximately 70 cents a share,” Gilmour said in a meeting with analysts, according to Reuters.

The average of analysts’ estimates for Ford in 2003 is 46 cents a share, according to Thomson First Call, Reuters noted.