GE reports fourth-quarter 2012 revenues of $39.3bn, +4%

GE reported fourth-quarter 2012 operating earnings of $4.7bn, up 13% from the fourth quarter of 2011. GAAP earnings from continuing operations were $4.3bn, up 9%. Revenues were $39.3bn for the quarter, up 4%, and $147.4bn for the year. Industrial segment organic revenue growth was 4% for the quarter and 8% for the year. Industrial segment profit rose 12% in the fourth quarter to $4.9bn. All Industrial segments had positive earnings growth for the second consecutive quarter, and five of the seven segments achieved double-digit earnings growth. All Industrial segments also expanded margins in the quarter, with Industrial segment margins up 120 basis points over the prior-year period. Infrastructure orders for the quarter were $28.5bn, up 2%, and up 7% excluding the effects of a decrease in orders for wind turbines, and FX. The ratio of equipment orders received to orders billed (book-to-bill) was 1.2. GE’s backlog of equipment and services at the end of the quarter was its highest ever, at $210bn.