NEW YORK, Oct. 8 (GenomeWeb News) - General Electric Healthcare contributed total orders of $3.3 billion to the company's reported total revenues of $38 billion for the third quarter ending Sept. 30, up from $33.4 billion for the same period last year, the company said today.
Total orders for the GE Healthcare unit increased 42 percent over the third quarter in 2003, including Amersham, the company said. The company did not specifically break out Amersham's contribution, but said that excluding Amersham, the unit's orders grew 15 percent to $2.3 billion, which would credit Amersham with $0.6 billion in orders, and growth of 27 percent.
Healthcare's total revenues of $3.3 billion compared to $2.3 billion for the year-ago quarter. The unit had net revenue of $503 million for the quarter, compared to $383 billion for the year-ago period.
Healthcare is the London-based business unit that combines Amersham, which was acquired in April in an $11.3 billion transaction, and GE's the company's legacy General Electric Medical Systems. The two entities operate as GE Bio-Science, and GE Health Technologies, respectively, but are considered one unit.
Jeff Immelt, GE's chairman and chief executive officer, in a statement said GE Healthcare has "made excellent progress" in integrating the acquisition.
The company recognizes revenue from sales of goods when a firm sales agreement is in place, delivery has occurred and collectibility of the fixed or determinable sales price is reasonably assured.