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GE announced 4Q 2008 earnings from continuing operations of US$3.9 billion, or $0.37 per share. Revenue was $183 billion, up 6%, and earnings were $18.1 billion, down 19%.
"In a very tough environment, we delivered fourth quarter business results in line with expectations we provided in December,” said chairman and CEO Jeff Immelt. "We expect 2009 to be extremely difficult," he added. "However, we have taken strong actions to prepare the Company, including strengthening cash flow and liquidity; managing costs; taking restructuring charges; intensifying risk mitigation; accelerating cycle of management reviews; and protecting revenue."
The company's industrial orders fell 6% in the fourth quarter and the backlog of equipment and services was up 9%. Transportation profits dropped 16% and health care earnings fell 9%.
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