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."
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.