GE Industrial Profit Soars
October 14
00:00
2005
GE Industrial Profit Soars
Jason Sandefur
General Electric reported revenues for its Industrial segment, including fasteners, rose 8% to $8.25 billion in the third quarter of 2005. Segment profit soared 56% to $629 million.
Industrial segment revenues in the first nine months of 2005 increased 8% to $24.17 billion, while profit surged 47% to $1.79 billion.
Overall GE revenues gained 9% to $41.9 billion during Q3, while earnings rose 15% to a record $4.7 billion. Nine-month revenues grew 13% to $123.2 billion, and net income improved 19% to $13.3 billion.
All six GE businesses deliver double-digit earnings growth. Web: ge.com �2005 FastenerNews.com
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