GE Healthcare posts double-digit profits in Q4, FY10
“GE ended 2010 with three consecutive quarters of strong earnings growth,” GE chairman and CEO Jeff Immelt said. “Fourth quarter net income of $1.1 billion was up $1 billion from a year ago.”
GE Healthcare, which falls under the parent company’s technology infrastructure segment, reported 2010 fourth quarter revenues of $5.1 billion, an 8 percent increase over the fourth quarter of 2009. Also, the unit’s annual revenue recorded a six percent jump over 2009, with revenues of $16.9 billion.
The increase in GE Healthcare revenues was attributed to an 11 percent jump in equipment orders and 4 percent enhancement in service orders, compared with the 2009 fourth quarter.
Equally positive, GE Healthcare posted segment profits of $1 billion in the fourth quarter of 2010, which is a 10 percent increase over the previously year’s fourth quarter. In addition, its 2010 segment profit of $2.74 billion was a 13 percent increase over 2009.