GE boosts 4Q income 52 pct

[January 21, 2011]  NEW YORK (AP) -- General Electric Co. says its fourth-quarter income increased 52 percent on strong growth in equipment orders. It also cites improvement in its lending business.

The industrial and financial giant on Friday reported net income of $4.46 billion, or 42 cents per share, for the final three months of the year. That compares with $2.94 billion, or 28 cents per share, for the same part of 2009.

The company says earnings from continuing operations were 36 cents a share. That tops analyst's expectations for earnings of 32 cents per share.

Its revenue increased 1 percent to $41.4 billion from a year ago. That beats Wall Street expectations for revenue of $40.3 billion.

Orders grew 12 percent year-over-year overall, including a 20 percent increase in equipment orders and a 5 percent expansion in services. Orders grew 4 percent at GE's energy infrastructure business, and the total company backlog increased to a record $175 billion.

[Associated Press; By CHRIS KAHN]

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