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Article: General Electric profits drop 35% in 1st quarter Firm's Healthcare division falls 22%

Article from:
The Milwaukee Journal Sentinel (Milwaukee, WI)
Article date:
April 18, 2009
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General Electric Co. reported a 35% drop in first-quarter earnings and 9% drop in revenue Friday, with the medical systems division contributing to the declines along with GE's struggling media and financial-services businesses.

In a conference call with investors, GE Chief Executive Officer Jeff Immelt said the outlook for GE Healthcare Ltd. is murky for the remainder of 2009. While GE Healthcare orders in China rose 23% in the quarter, business in the United States for diagnostic imaging equipment receded as government agencies tighten reimbursements for imaging services.

GE Healthcare's Diagnostic Imaging business, known as the D.I. unit, is based in Waukesha. "The U.S. D.I. equipment ...

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