GE profits fall less than expected

April 17, 2009

Other headlines:Varian woos China

GE profits fall less than expected

In a market that has come to expect bad news, GE's report April 16 that profits dropped only 36% was good news. The mega-conglomerate beat Wall Street expectations with net income that totaled $2.74 billion in the first quarter compared with $4.3 billion in the year-earlier period. But the news was hardly welcome to the healthcare industry, as GE Healthcare sales dropped 9%, underscoring continued weak demand in the global market for medical equipment. Jeff Immelt, GE's CEO and chairman, provided a positive outlook, saying that the company was positioning itself to lead in this "reset economy" by investing in growth, lowering cost, and generating cash. "We see great opportunity in a global economy that favors clean energy, affordable healthcare, and services that drive customer productivity," he told investors.

Varian woos China

Varian Medical Systems will showcase its line of PaxScan flat-panel x-ray image detectors for digital radiography among its other x-ray components at the China International Medical Equipment Fair meeting in Shenzhen, April 18 to 21. The tech spread is designed to direct attention to the company's newly established x-ray service center in Beijing.