Friday, January 20, 2012

GE Transportation hails healthy 4Q

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Erie, Pa.-based GE Transportation on Friday reported $1.5 billion in fourth-quarter 2011 revenue, up 43% year-over-year. Revenue for the full year 2011 was $4.9 billion, up 45% compared with fiscal year 2010. Segment profit for the fourth quarter was $226 million, up from $73 million in 2010. Full-year profit for GE Transportation was $757 million, up from $315 million in 2010.

GE Transportation’s orders were $1.2 billion, down 11%, in the fourth quarter due to a multi-year order received in 2010. Full-year orders were $4.6 billion, down 7%, the company said.

GE Transportation is a major division of Fairfield, Conn.-based General Electric Co., which on Friday announced fourth-quarter 2011 0perating earnings of $4.1 billion, or 39 cents per share, up 6% and 11% respectively from the fourth quarter of 2010. GE revenue for the fourth quarter was $38 billion, and notched $147.3 billion for the full year.

GE Transportation President and CEO Lorenzo Simonelli said, “In 2011 we invested heavily in leading transportation products that drive sustainable infrastructure development in the rail, mining and other industries around the globe. We staffed for growth and expanded our manufacturing capabilities worldwide. We are well-positioned to help our customers succeed and to capitalize on growth opportunities in 2012.”