Higher sales in its Life Sciences business helped GE Healthcare achieve slightly higher revenues for the fiscal fourth quarter of 2019 and the year.
For all of 2019 (end-December 31, 2019), revenues increased 1% to $19.942 billion, compared with $19.784 billion in 2018. Total orders also advanced 1% to $21.172 billion in 2019, compared with $20.897 billion in 2018. GE Healthcare's profit gained 5% to $3.896 billion last year, compared with $3.698 billion 2018.
The company reported that sales in the quarter for its Life Sciences business were up 2%, while the Healthcare Systems division was down 1%. Orders for the period were driven by growth in GE's Life Care Solutions, Services, and Ultrasound divisions; this growth was partially offset by GE's Imaging business.
In the fourth quarter of 2019, revenues climbed slightly to $5.402 billion, compared with $5.398 in the fourth quarter of 2018. Orders rose 2% to $5.896 billion in the quarter, compared with $5.756 billion in the same quarter of 2018. In addition, profit was up 2% to $1.183 billion, compared with $1.176 billion in 2018's fourth quarter.
