General Motors Corp. will report its delayed year-end results on Wednesday, the struggling automaker said Monday.GM was originally scheduled to report fourth-quarter and year-end results in January, but delayed the announcement due to tax accounting adjustments which necessitated the restatement of past financial statements. The automaker said in January that it expects to report improved performance in its automotive business, including record fourth-quarter revenues.GM said it expects to be profitable on a reported consolidated basis in the fourth quarter of 2006, and net income is expected to "improve significantly" over the fourth quarter of 2005. GM reported a net loss of 3.9 billion dollars for the first three quarters of 2006.GM said its deferred tax liabilities were overstated due to errors that originally occurred primarily before 2002 but affect results from 2002 through the third quarter of 2006. GM said these errors do not impact cash flow or previously reported cash balances. However, retained earnings as of December 31, 2001 and subsequent periods were understated by a range of 450 million to 600 million dollars.
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