GE Unit With Majaps Posts Q1 Increases

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Fairfield, Conn. - GE's first quarter report stated its home & business solutions unit had higher sales and earnings in the first quarter ended March 31.

The unit, which includes GE appliances, had revenues of $1.98 billion, a 3 percent gain, and operating profit of $74 million, a 4 percent gain over last year's first quarter.

The only specific mention of GE Appliances in the report was that the company implemented an April price increase.

Corporately GE reported net earnings for the quarter of $3.4 billion, up from the prior year's $2.3 billion, and revenues of $38.9 billion, an increase of 6 percent.


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