GE Q2 CE Segment Sales Rise 2%

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Fairfield, Conn. — Sales in the consumer and industrial segment at GE edged upward 2 percent in the second quarter, hitting $3.6 billion, compared with a year-ago $3.5 billion.

The segment, which includes the company’s major appliances lineup, registered continued strong sales of high-end Monogram and Profile majaps, said GE.

GE’s consumer and industrial segment profit rose 11 percent in the second quarter, ended June 30, reaching $227 million, up from $204 million in the same period last year. The segment, primarily majaps and lighting, included new second-quarter product introductions such as the Profile SmartDispense dishwasher and an “ecomagination” product with exclusive detergent management capabilities.

For the six months, GE’s CE segment sales rose 4 percent to $6.8 billion, up from a year-earlier $6.6 billion.

Segment profit in the first half jumped to $392 million, an 11 percent increase over the $353 million reported in the same six months in 2004.

Consumer and industrial products “that can expand our share position” helped lift consolidated GE second quarter revenue by 13 percent in the second quarter, hitting $41.6 billion, from $36.8 billion in the same three months last year. Net income for the period increased 24 percent to $4.6 billion, from $3.8 billion in the same six months in 2004.

For the first half, consolidated revenue increased 16 percent, reaching $81.3 billion, compared with a year-on-year $70.4 billion. Net earnings for the same time frame rose 21 percent, coming in at $8.6 billion, up from a year-earlier $7.1 billion.

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