GE Q2 Majap Segment Revenue Rise 6% - Twice

GE Q2 Majap Segment Revenue Rise 6%

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Fairfield, Conn. — A 21 percent increase in unit sales of General Electric high-end Profile and Monogram major appliances helped the company’s consumer and industrial segment, which includes majaps, register a 6 percent jump in revenue, hitting $3.5 billion, up from $3.3 billion in the year-ago period.

Majap segment profit at GE in the second quarter, ended June 30, soared 18 percent, reaching $204 million, compared with $173 million in the same three months last year. The consumer and industrial division was among nine of 11 GE business segments to contribute double-digit improvements to earnings during the three months.

For the six months, GE’s consumer and industrial business revenue rose 7 percent to $6.6 billion, up from $6.2 billion in the second quarter of 2003.

Six-month profit for the majap segment increased 17 percent, hitting $353 million, compared with $301 million in the first six months of last year.

GE noted the launch of several new majap products in the year’s first half, including the Profile ClimateKeeper2 dual-evaporator refrigerator and Monogram under-counter refrigeration modules.

Consolidated GE revenue in the second quarter climbed 11 percent, reaching $37 billion, up from $33.4 billion in the same three months a year earlier. Earnings for the quarter increased 3 percent to $3.9 billion, compared with $3.8 billion year-on-year.

For the six months, consolidated GE revenue rose 10 percent, hitting $70.4 billion, up from $63.8 billion in the first half of 2003. Six-month earnings enjoyed a 5 percent rise to $7.2 billion from $6.8 billion year-over-year.

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