GE's Q2 Majap Sales Dip 11%, Net Down 22%

Staff On Jul 23 2001 - 6:00am

Sales and earnings at General Electric's major appliances segment were hit hard in the second quarter. Revenue dropped 11 percent to $1.4 billion, compared with $1.6 billion in the same period last year, and profit was off 22 percent, declining to $151 million, from $194 million in the same three months last year.

For the six months, GE's majap segment reported an 8 percent decrease in sales, to $2.7 billion, from $3 billion in the previous six-month period. Segment profit for the six months decreased 14 percent to $297 million, from $344 million in the same six months last year.