The world’s 2nd-largest medical device company reported profits of $655 million today on sales of $4.30 billion for the 3 months ended Sept. 30, for bottom-line growth of 7.3% on a sales decline of 0.1% compared with the same period last year.
Profits for GE Healthcare’s corporate parent were down, however. General Electric logged profits of $3.19 billion, or 31¢ per share, on sales of $35.73 billion for the quarter. That represents a profit decline of 8.6% on a top-line slip of 1.5%, compared with Q3 2012.
"Our 3rd-quarter results were very strong in an improving global business environment," GE chairman & CEO Jeff Immelt said in prepared remarks. "This quarter we delivered on our major strategic goals for investors. We grew Industrial segment profits 11% with good margin expansion. GE Capital is smaller and stronger; it is returning cash to the parent, while maintaining its profitability. And with a record backlog of $229 billion, we are winning in the market and are well positioned for 2014. Our overall framework for the year is unchanged."