Saturday, April 18, 2009
GE Q1 2009
GE Q1 2009
1Q ’09 Highlights (Continuing Operations attributable to GE)
· Earnings per share (EPS) of $.26 vs 02.12, down 40%; earnings of $2.8 billion, down 35%
· Revenues of $38.4 billion, down 9%; Industrial sales down 1%; financial services revenues down 20%; Industrial organic revenue was flat year-over-year
· Energy Infrastructure earnings grew 19%; Technology Infrastructure earnings grew 6%
· Capital Finance earned $1.1 billion in 1Q and remains on track for profitable 2009
· Capital Finance extended $69 billion of new credit in 1Q
· Total equipment and services backlog steady at $171 billion; 1Q Infrastructure orders totaled $19 billion, down 10%
· Achieved 93% of planned 2009 long-term debt funding; $47 billion cash and equivalents
· Results do not include any impact from newly issued mark-to-market rules; implementing in 2Q
· Cash generated from operating activities totaled $2.8 billion, on plan
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