GE Healthcare posted profits of $570 million on sales of $4.20 billion for the 3 months ended March 31, for a bottom-line decline of 4.2% and a top-line slide of 2.1% compared with the same period last year.
Fairfield, Conn.-based GE said its overall profits were $3.0 billion, or 30¢ per share, on sales of $34.18 billion. That represents a profit decline of 15.0% on a sales decline of 2.2%.
"We had strong results in the first quarter in most of our markets, including Power & Water, Aviation, Oil & Gas, and GE Capital," chairman & CEO Jeff Immelt said in prepared remarks. "The environment was generally positive, and we executed on our operational priorities with strong organic growth, margin enhancement, and solid cash generation."
GE Healthcare this week won 510(k) clearance from the FDA for its Revolution* CT^ scanner. Last week the company landed another nod from the FDA for the Q.Clear imaging software used with PET and CT scanners. In March the U.S. Defense Dept. re-upped a $73 million contract with GE Healthcare for a digital imaging network-picture archive communication system.