G/E Reports Strong Earnings
July 18
00:00
2005
G/E Reports Strong Earnings
Jason Sandefur
General Electric reported sales of consumer and industrial products, including fasteners, grew 2% to $3.57 billion during the second quarter of 2005, while segment profit gained 11% to $227 million.
For the first six months of 2005 consumer and industrial product sales increased 4% to $6.8 billion. Segment profit improved 11% to $392 million.
Overall Q2 revenues jumped 13% to $41.6 billion, which included organic growth of 8%. Q2 earnings soared 24% to a record $4.6 billion. All 11 GE businesses deliver at least double-digit earnings growth, the company stated.
First half revenue increased 16% to $81.28 billion, while earnings grew 21% to $8.6 billion. Web: ge.com �2005 FastenerNews.com
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