GE Posts Strong Results
GE Posts Strong Results
Jason Sandefur
General Electric announced earnings for the first quarter of 2004 rose 10% to $33.4 billion, while net income increased 8% to $3.24 billion in what one analyst characterized as a �very strong performance.�
�Total industrial orders for the quarter grew 20%, building on our fourth-quarter momentum,� stated CEO Jeff Immelt. �With first quarter results coming in at the top of our range, and second quarter operations on track to do the same, we feel very good about 2004.�
Nine of GE�s 11 business divisions produced double-digit profits during Q1. GE�s holdings include Irving, TX-based GE Supply Logistics, formerly known as Questron Technologies Inc.
On April 7, GE signed an agreement with Boeing to supply engines for Boeing�s planned new 7E7 Dreamliner jet. The deal could be worth as much as $40 billion over 25 years. Web: ge.com �2004 FastenerNews.com
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