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Home » GE Healthcare’s Q4 profits slide on flat sales growth

GE Healthcare’s Q4 profits slide on flat sales growth

January 23, 2015 By Brad Perriello

GE Healthcare's Q4 profits slide on flat sales growth

GE Healthcare (NYSE:GE) saw its 4th-quarter profits slide 4.0% on sales growth of just 0.3% for the 3 months ended Dec. 31, 2014, although the industrial conglomerate still topped earnings expectations by a penny.

Profits for GE Healthcare were $1.02 billion on sales of $5.13 billion during the quarter. Full-year profits for the division were $3.05 billion on sales of $18.30 billion, leading to a flat bottom line on 0.5% sales growth compared with 2013.

Overall Q4 profits for GE rose 61% to $5.15 billion, or 51¢ per share, on a 4% sales increase to $42 billion. Excluding 1-time items, earnings per share were 56¢, 1¢ cent ahead of analysts’ expectations on Wall Street.

"GE ended the year with strong 4th-quarter industrial earnings and margin growth. The environment remains volatile, but we continue to see infrastructure growth opportunities. We are pleased with our execution in 2014: Meeting our commitment to grow industrial segment profits 10%, industrial segment organic revenue growth of 7%, increasing operating margins [by] 50 basis points, decreasing costs by $1.2 billion, reducing the size of GE Capital and returning $11 billion to shareowners," chairman & CEO Jeff Immelt said in prepared remarks.

GE said U.S. orders rose 9% for the healthcare business, paced by a 17% jump in equipment orders.

Material from Reuters was used in this report.

Filed Under: MassDevice Earnings Roundup, News Well Tagged With: 2014, GE Healthcare, Q4

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