GE Industrial Revenues Soar
GE Industrial Revenues Soar
Jason Sandefur
General Electric reported that fourth quarter sales in its Industrial segment, including fasteners, grew 19% to $24.6 billion. For the year, industrial sales improved 17% to $82.2 billion, reflecting the impact of acquisitions and solid core growth.
Overall Q4 sales gained 18% to $43.7 billion, while profit improved 18% to $5.4 billion. Nine of GE”s 11 businesses contributed double-digit earnings growth.
For 2004, revenue increased 14% to $152.4 billion, while earnings improved 6% to $16.6 billion.
“GE had a tremendous fourth quarter and an excellent 2004, as we completed our strategic repositioning and returned to double-digit earnings growth in the quarter,” said CEO Jeff Immelt. “We are benefiting from strong execution of our growth initiatives and an excellent global economy.” Web: ge.com �2005 FastenerNews.com
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