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GE’s ultrasound unit shows 25% growth
The ultrasound business of GE Medical Systems was singled outfor praise last week in GE's announcement of fiscal 1996 financialresults. The Fairfield, CT, conglomerate said that new productsdrove the ultrasound business to grow 25% in a relatively
The ultrasound business of GE Medical Systems was singled outfor praise last week in GE's announcement of fiscal 1996 financialresults. The Fairfield, CT, conglomerate said that new productsdrove the ultrasound business to grow 25% in a relatively flatoverall market.
GEMS's ultrasound unit last year introduced major upgradesfor its Logiq line of scanners, and former GEMS president andCEO John Trani said last month that the upgrades were the keyto a successful year for the business (SCAN 1/8/97). Overall,GEMS was one of five GE businesses that reported double-digitincreases in operating profit.
For the year, GE reported record revenues of $79.2 billion,up 13% compared with $70 billion in 1995. Earnings also set arecord, with the company posting net income of $7.3 billion, up11% compared with $6.6 billion in 1995. The results may make GEthe most profitable company in the U.S. for the year.
GE did not break out sales and earnings figures for GE MedicalSystems, other than to report on the growth in ultrasound andoperating profit. GEMS in the past has reported sales of over$3.5 billion.
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