Information  X 
Enter a valid email address

General Elec. (GEC)

  Print      Mail a friend

Wednesday 06 February, 2002

General Elec.

Reaffirms 02 Earnings Targets

General Electric Company
6 February 2002

                      GE Reaffirms 2002 Earnings Targets,

               Says It Is On Track for Double-Digit First Quarter

Fairfield, Conn., February 5, 2002 - GE Chairman and CEO Jeff Immelt today
reaffirmed the Company's full-year target of 17-18% growth in ongoing earnings
per share (EPS), to $1.65-$1.67, and expressed confidence about GE's first
quarter.

'The first quarter is only five weeks old, but we can see that it's turning out
exactly as we expected,' Immelt said. 'We see revenues growing 3-5%, with
double-digit growth at the industrial businesses. We're confident that first
quarter EPS will meet or slightly exceed consensus estimates of $.34 per share,
and that growth in cash from operations, excluding progress payments, will
outpace earnings growth.

'One thing stands out from the swirl in the markets,' Immelt said, 'and that is
the fact that the GE business model works. Our diverse set of leading businesses
continues to perform. Our initiatives are in full swing, with benefits from
digitization at record levels. We have tremendous financial strength and a
system of controllership that is second to none. GE isn't a 'faith' stock - it's
a performance stock. And we're on track for another record performance.'

GE (NYSE:GE) is a diversified technology, services and manufacturing company
with a commitment to achieving customer success. GE operates in more than 100
countries and employs approximately 310,000 people worldwide. For more
information, visit the company's website at http://www.ge.com.

Caution Concerning Forward-Looking Statements

This document includes certain 'forward-looking statements' within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Actual results may differ materially from these
expectations due to changes in global political, economic, business,
competitive, market and regulatory factors. More detailed information about
those factors is contained in GE's filings with the Securities and Exchange
Commission.



Contact: General Electric, Fairfield, Conn.

David Frail, 203/373-3387

david.frail@corporate.ge.com





                      This information is provided by RNS
            The company news service from the London Stock Exchange