General Electric

(GE) - Get General Electric Company (GE) Report

said it earned $3.59 billion, or 36 cents a share, in the fourth quarter, exactly what analysts were expecting.

A year earlier, GE earned $3.09 billion, or 31 cents a share. GE's revenue climbed 6.5% to $34.98 billion from $32.86 billion a year ago.

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The company noted that its power generation business was seeing record-level demand, its aircraft engine division was maintaining its global market share above 50%, and its


unit was attracting the key demographic of adults 18 to 49 years old.

In a statement, Chairman Jack Welch said, "The strength of our long-cycle businesses combined with our ongoing initiatives -- globalization, Six Sigma, product services and e-business -- and our new leadership give us enormous confidence that 2001 will be another record year of double-digit earnings increases. ''