NEW YORK (GenomeWeb News) – GE Healthcare today reported that fourth-quarter revenues for its GE Healthcare business, which includes the firm's tools for molecular research, declined 3 percent year over year.
GE Healthcare's revenues were $4.8 billion for the quarter compared to $5 billion in Q4 of 2007. The unit's profit dropped 9 percent to $942 million from $1 billion year over year.
For full-year 2008, GE Healthcare generated revenues of $17.4 billion, up 2 percent over 2007 revenues of $17 billion. Its full-year profit declined 7 percent to $2.9 billion from $3.1 billion.
Fiscal 2008 revenues for the parent company, General Electric, were $182.5 billion, up 6 percent from $172.5 billion for 2007. The firm's net earnings attributable to common shareowners were $17.3 billion, or $1.72 per share, down 22 percent from $22.2 billion, or $2.18 per share, for 2007.
GE Healthcare is one component of GE's Technology Infrastructure business segment, which also includes the conglomerate's Aviation, Enterprise Solutions, and Transportation units.