Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

GE Reports Flat 3Q Profits for Appliance Business
Oct 18, 2010
 Printable format
 Email this Article
 Search

GE's Home & Business Solutions business includes two business segments: Appliances & Lighting and Intelligent Platforms. GE reported that the 3Q revenues were $2,125 million, down 1% from 2009's 3Q.

In GE's webcast presentation Keith Sherin, vice chairman and CFO, said 3Q results were "…really driven by weakness in the appliance market."

Sherin continued: "For Appliance, the market was down 4% in the third quarter and our orders were down 6% with continued weakness in the contract channel. Multifamily was very weak in the quarter, and that is affecting the overall business. If you look, segment profit at $104 million was flat. That includes the impact of higher cost that we have put into the appliances to meet the new Energy Star standards which on a net basis is a positive because it resulted in $51 million of tax credits that aren't included in the pretax numbers."

He noted that GE continued to invest in Home & Business Solutions, with R&D up 27% in the third quarter of 2010.

Back to Daily News

 

Daily News

...........................................................

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

Nov 20, 2014: Most Profitable Industry in the U.S.: Electrical Equipment, Appliance and Component Manufacturing

Nov 19, 2014: LG washing machine global sales top 20 million in 5 years

Nov 19, 2014: Wolf ovens use columnar vertical blower fans to optimize convection

Nov 19, 2014: ASRAC meeting to address home air-conditioner regional standards enforcement

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows