OEC shipments drive GE's Q2 growth

The resumption of shipments from its OEC surgical business helped GE Healthcare post double-digit growth in revenues and an 8% gain in profit in the second quarter (end-June 30).

Revenues for the Chalfont St. Giles, U.K., vendor advanced 11% to $4.49 billion in the quarter, compared with $4.04 billion in the second quarter of 2007. Profit rose to $747 million, compared with $692 million in the same quarter last year.

For the six-month period, healthcare revenues increased to $8.37 billion, a 6% jump from $7.94 billion in the first half of 2007. Profit, however, slipped 4% to $1.27 billion, compared with $1.32 billion in the same period last year.

In the second quarter, GE shipped more than 700 units from its OEC surgical unit to boost revenues. Parent company General Electric of Stamford, CT, also cited strong global equipment sales growth for its second-quarter progress, despite the challenging imaging equipment market.

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