Earnings Round-Up: GE, IEI
FAIRFIELD, Conn.
GE reported record first-quarter financial results, with
double-digit increases in earnings and revenues. GE had net
earnings of $4 billion for the first three months of 2006,
up 14 percent from the year before.
GE had first quarter revenues of $37.8 billion, up 10percent.
The GE Industrial business unit, which includes GE Security,had revenues of $8.1 billion and net earnings of $600million in the first quarter.
Of GE’s six businesses, only its NBC Universal unit showed adrop in earnings.
In other earnings news …
International Electronics Inc.: The access controlmanufacturer reported a 15-percent increase in revenue forits second quarter.
IEI’s net sales for the three months ended Feb. 28 were $3.5million. IEI had a net loss of $146,052, which was less thanits $176,618 loss for last year’s second quarter.
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