GE Healthcare profits fall for Q4, year end

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GE Healthcare affected by the economic crisis. Image Source: Bogen Communications

GE Healthcare reported a dip in segment profits for its fiscal 2008 fourth quarter, which ended Dec. 31, 2008, as well as for its year-end results.

The company’s healthcare division, which is now part of its Technology Infrastructure Unit, reported revenues of $4.82 billion for the fourth quarter of 2008, a slight downturn compared with revenues of $4.99 billion in the fourth quarter of 2007. GE said its segment profits slid 9 percent to $942 million for the quarter, compared with $1.04 billion in segment profits posted for the same period last year.            

GE reported an uptick in revenues of $17.39 billion for its year-end results, compared with $16.99 billion for its 2007 year-end results. However, the company said its segment profits fell 7 percent to $2.85 billion for the 2008 fiscal year, compared with $3.06 billion for its 2007 year-end results.            

“In a very tough environment, we delivered fourth quarter business results in line with expectations we provided in December,” GE Chairman and CEO Jeff Immelt said.