General Electric (GE) has reported that its healthcare unit saw a 5 percent increase in revenues and a double-digit increase in earnings in the first quarter of 2012, compared with the first quarter of 2011.
In general, GE’s industrial segment profit was up 10 percent to $3.3 billion and segment operating profit margins showed improvement in healthcare and transportation in the first quarter.
Specifically, for the healthcare unit, the revenues gained 5 percent—from $4.09 billion in the first quarter of 2011 to $4.3 billion in 2012’s first quarter. The revenues decreased 4 percent in Europe, increased 3 percent in the U.S., and increased 17 percent in growth markets.
As a result, during the investor presentation, GE’s CEO and Chariman Jeff Immelt noted that that healthcare’s “emerging markets growth continues” and the “U.S. performance is improving.”
The earnings growth was 10 percent to $585 million in the first quarter of 2012, compared with the first quarter of 2011.
Also, GE reported that its healthcare’s orders totaled $4.4 billion, with an increase of 12 percent in equipment to $2.4 billion, and its orders for services were flat at $2 billion. The company said that the equipment backlog is $4 billion.
The technology giant also touted that the healthcare unit in the process of launching 71 products in 2012, compared with 50 in 2011, which were focused on ultrasound and interventional technologies in the first quarter.