GE Industrial Sales Rise

Jason Sandefur

General Electric Co. reported Industrial segment sales, including fasteners, rose 6.2% to $32.6 billion in 2005, while Industrial profit soared 40% to $2.55 billion. Industrial sales during the fourth quarter of 2005 edged up 1% to $8.45 billion, and segment profit rose 25% to $769 million.
Overall revenue in 2005 rose 115 to a record $146.7 billion, including organic revenue growth of 8%. Full-year earnings also set a record, with profit climbing 12% to $18.3 billion. All six GE businesses saw double-digit earnings growth.
Q4 revenue climbed 3% to $40.7 billion, while quarterly profit dropped 46% to $3.06 billion.
“We see continued strong growth in Asia and developing markets, mid single-digit growth in the Americas, and slow growth in Europe,” CEO Jeff Immelt stated. Web: ge.com �2006 FastenerNews.com