GE Medical Systems turned in a record 2002, reporting revenues of $8.955 billion. Revenue climbed 6% compared with the $8.409 billion posted in 2001. The Waukesha, WI-based GE division had a 2002 profit of $1.546 billion, compared with a 2001 profit of $1.498 billion.
For the fourth quarter, GEMS had revenues of $2.75 billion, up 5% compared with the $2.629 billion posted in the same period a year go. The division had profit of $532 million, compared with $505 million in the fourth quarter of 2001.
Among financial highlights for the quarter, GE reported total order growth of 7%, to nearly $3 billion. The company also notched 193 orders for its LightSpeed 16 multislice CT scanner, and has now sold 341 LightSpeed 16 units since its June 2002 debut.
In ultrasound, the firm reported $341 million in orders, an 18% increase over the fourth quarter of 2001. GE's surgical and vascular imaging business booked orders of $250 million, up 21% thanks to a strong performance by GE's Innova 2000 digital cardiovascular system.
Orders from China were up 187%, with strength across all modalities, GE said. Information technology orders climbed 30%, aided by increases in clinical IT systems through acquisitions and the launch of the Centricity product line, according to the vendor. Medical services orders gained 12% to $760 million.
By AuntMinnie.com staff writersJanuary 20, 2003
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