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EARNINGS

GE Results Up Sharply in Quarter; RCA Unit Cited

April 09, 1987

General Electric Co., the nation's sixth-largest industrial company, said its profit jumped 16% in the first quarter to $624 million, largely due to good results at its RCA Corp. subsidiary.

Fairfield, Conn.-based GE recorded net income of $537 million in the same quarter a year ago. Revenue jumped to $8.32 billion from $5.88 billion, a rise of more than 40%.

RCA owns National Broadcasting Co., the top-rated TV network. GE bought RCA last June, therefore the unit's results are not included in GE's earnings for the first quarter of 1986.

"Operating highlights in the first quarter were the significantly higher sales volume and earnings realized by aircraft engines and medical systems, continued strong performances in plastics, major appliances and Employers Reinsurance Corp., and the positive impact of NBC on GE's results," said GE Chairman John F. Welch Jr. in a statement.

Employers Reinsurance is part of GE's financial services division that includes GE Credit Corp. and Kidder, Peabody & Co., which is 80% owned by GE.

The company's statement said the financial services operating results were "considerably ahead" of the prior year's quarter.

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