WSJ Journal
7-14-03 GE Net Fell 14% in 2nd Quarter; Profit Forecast for the Year Is Cut GE said it’s second quarter net income fell 14% primarily due to declining sales in its power-turbine business. Furthermore, GE lowered its year end earnings forecast stating that profits would rise 3% - 7% at most. Some analysts stated that SARS had a negative impact on GE airplane-engines business, however, six of GE’s companies reported profit growth of more than 10%. The biggest disappointments for GE were it’s power-systems, plastics, & equipment-management divisions which saw a profit decline of 47%, 71%, & 61% respectively.