Chrysler turns a profit; first time since 1978

Chrysler Corporation reported it earned $12 million in the second quarter of this year -- its first profitable three-month period since the fourth quarter of 1978. Chairman Lee A. lacocca described the development as historic. It was almost exactly two years ago that Chrysler first appealed for federal government help because of mounting losses.

In the same period last year Chrysler lost $536 million. In this year's first quarter, losses were $298 million.