Boston, MA 01/31/2014 (wallstreetpr) – General Electric Company (NYSE:GE) having learnt lessons from the economic meltdown of 2008 has continued to position itself in the market for sustainable growth by primarily focusing on core businesses and diversification. The company is slowly but getting back to its industrial roots. The company fourth quarter revenue for F2013 rose by 5% bolstered mainly by its industrial business and the improvement of the US economy. The company over the past months has resorted to focusing mainly on products like oil pumps, jet engines and home appliances that have shown to have a good return on investments. The company has also opted to stay clear of risky activities and ventures that got it into the financial meltdown of 2008.
General Electric Company (NYSE:GE)’s net earnings increased slightly to $4.2 billion in the fourth quarter compared to $4.01 same quarter a year ago. The company earnings per share stood at 53 cents excluding certain costs that was in line with expectations from some analyst’s houses. General Electric quarterly revenue increased by 3% to reach the $40.38 billion mark as compared to the same quarter a year ago. Its industrial business enterprise contributed $29.95 of the total revenue. U.S. was the largest market for General Electric products with orders increasing by 8%. Europe reported the weaker market with orders only increasing by 3%
The financial meltdown of 2008 has been a decisive lesson for General Electric Company (NYSE:GE) as the company has continued to cut down on its operating costs and focus more on industrial businesses. Last year only, the company cut down its operating costs by a total of $1.6 billion thereby increasing its operating profit margin. The oil and natural segments which sell pumps and other equipment’s posted positive results reporting a 24% increase in profit for the quarter ending. General Electric has paid out $7.8 billion in dividends while also buying back $10.4 billion worth of stock.
