Earnings Round-Up: GE, United Technologies, ScanSource
2005 proved to be a record year for GE, parent company of
In year-end financial figures released this week, GE announced net earnings of $18.3 billion in 2005, up 12 percent from the year before. Revenues were up 11 percent to $149.7 billion.
In other earnings news …
UNITED TECHNOLOGIES: In a year of growth and acquisition, UTC Fire & Security saw its net profit rise 45 percent in 2005 to $235 million. Meanwhile, United Technologies Corp. saw its overall profit margin go up 15 percent to $3.1 billion on revenues of $42.7 billion.
UTC Fire & Security was expanded beyond integrator Chubb in 2005 with the acquisitions of fire-systems maker Kidde and security software firm Lenel. Overall, the fire and security group had revenues of $4.3 billion in 2005, a 32-percent gain.
SCANSOURCE: Security product distributor ScanSource Inc. recently announced that sales results for its quarter ending Dec. 31 were in the area of $404 to $411 million compared to $370.1 million for the same period a year ago.
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