twice connect

GE Majap Sales Off 7% In 4th Qtr., But Net Increased

1/29/2001 02:00:00 AM Eastern

FAIRFIELD, CONN. -Although revenue in the major appliance segment at General Electric dipped 7 percent in the fourth quarter, the company still reported a small profit in major appliances.

For the three months ending Dec. 31, GE said, appliance revenue was $1.4 billion, compared with $1.5 billion in the year-ago fourth quarter. Profit for the segment hit $181 million, a 1 percent gain from the $180 million recorded in the same quarter in 1999.

For the 12 months, GE said its majap business had a revenue of $5.9 billion, about 4 percent better than the $5.7 billion reported for all of 1999. Appliance-segment profit also earned a 4 percent gain for the year, reaching $684 million, compared with $655 million in the same 12 months last year.

GE Capital Services enjoyed record earnings results for the year, reporting a 17 percent increase to $5.2 billion, compared with $4.4 billion in 1999. Revenue rose 19 percent during the 12 months to $66 billion, compared with $55.7 billion in the previous 12 months.

Fourth-quarter profit at GE Capital Services climbed 16 percent to $1.2 billion, up from $1.1 billion in the year-ago three months. Fourth-quarter revenue jumped 10 percent to $17.6 billion, compared with $16 billion in the same quarter last year.

Reflecting continued growth from global activities and product services, overall revenue at GE climbed 16 percent to a record $129.9 billion in 2000, compared with $111.6 billion in 1999. Earnings were up 19 percent for the year, hitting $12.7 billion, compared with $10.7 billion in 1999.

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National