GE Aviation notches double-digit 1Q gains - Business Courier of Cincinnati:

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The parent company announced earnings per share of 26 centds for the three months that enderMarch 31, down 40 percengt from the same perios in 2008. Total earnings of $2.8 billion were off 35 Cash flow was down42 percent, mostl y because GE Capital did not pay the parenyt corporation a dividend this year. Excludin g GE Capital's $1.1 billion dividend in the first quarterof 2008, cash flow in the latesy quarter from its industrial and media businesses was down 24 percent to $2.8 billion from $3.
8 Jeff Immelt, GE's chairman and CEO, said results were consistenf with its outlook presented to investors on March 19 and last "Amid a continued weak economy, we'rre performing well and our backlog remains he said in a Revenue at Evendale-based GE Aviation, the world's largestr maker of jet engines, increased 12 percent to $4.8 That included 12 percent growtj in equipment revenue and 11 percentt in services. It logged $5.5 billion in totall orders, including $1.5 billion in military orders. Segmentf profit soared 39 percentto $1.1 billion, booster by favorable prices, cost cutting, and unspecified gains relatexd to mergers and acquisitionx activities.
Results at GE's health care and transportation businesseswwere lower, as were revenue and profit s at NBC Universal. Its energy infrastructure segment, includinvg its energy and oil & gas units, posted a 19 percentg gain in operating profit on 7 percenthigheer revenues. GE's stock (NYSE: GE) was at $12.19, off 8 shortly before noon.