Revenue from developing countries offset slow growth in Europe and the U.S. to produce positive numbers for GE Healthcare in its year-end financial report (end-December 31).
Revenue increased 7% to $18.08 billion in 2011, compared with $16.9 billion in 2010. Segment profit grew by 2% to $2.8 billion last year, compared with $2.74 billion in 2010.
In the fourth quarter of 2011, revenue was essentially flat with a 1% rise to $5.16 billion, compared with $5.1 billion in the same quarter of 2010. Profit, however, declined 5% to $953 million, compared with $1 billion in the fourth quarter of 2010.
Parent company General Electric noted that GE Healthcare experienced a strong revenue gain of 16% in developing markets in the fourth quarter of 2011, while revenue from Europe decreased 7% and U.S. revenue slipped 2% compared to 2010's fourth quarter.
