A backlog of orders guaranteeing future
business will provide "momentum" for GE into 2013, the company
reported Friday as it announced a fourth quarter net profit of 4
It said the backlog of orders amounted to business worth 210 billion dollars.
"The outlook for developed markets remains uncertain, but we are seeing growth in China and the resource rich countries," said chairman and chief executive Jeff Immelt.
"With our largest backlog in history and a substantial amount of cash generated by our businesses in the fourth quarter, we have got great momentum going into 2013."
The industrial conglomerate reported revenues of 39.3 billion dollars for the fourth quarter of 2012, a 4-per-cent increase on the previous year's figure. Annual revenues totaled 147.4 billion dollars.
The 4-billion-dollar net profit figure was an 8-per-cent improvement over 3.7 billion dollars for the fourth quarter of 2011.
Most Popular Stories
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Chinese May Have Spotted Malaysia Airlines Debris
- Social Media Causee Sleep Deprivation in Students
- First-time Jobless Claims Drop Unexpectedly
- Banks Buying Little From Minority Firms: Study
- General Electric Plans IPO of Credit Card Unit
- SXSW Crash Kills 2, Injures 23
- U.S. Business Inventories Up, Retail Sales Down
- 'Candy Crush' Maker Files IPO
- First-time U.S. Jobless Claims Hit 3-month Low