By The Business Review (Albany)

General Electric reported a 14 percent increase in income for the second quarter.

The Fairfield, Conn.-based conglomerate had net income from continuing operations, attributable to the company, of $3.3 billion, or 30 cents a share. In the year-ago quarter, net income from continuing operations, attributable to the company, was $2.9 billion, or 26 cents a share.

Revenue for the quarter totaled $37.4 billion, a decrease of 4 percent from second quarter 2009 revenue of $39.1 billion.

For the six months ended June 30, net income from continuing operations attributable to the company was $5.6 billion, or 51 cents a share, on revenue of $74 billion. This compares to $5.7 billion, or 53 cents a share, on revenue of $77.5 billion, in the first half of 2009.

GE Energy, which has significant operations in Schenectady, had revenue of $15.2 billion for the first six months of 2010, down 8 percent from a year earlier.

GE (NYSE: GE) also has a global research center in Niskayuna and a medical device manufacturing plant in North Greenbush.

Copyright 2010 American City Business Journals

http://albany.bizjournals.com/albany/stories/2010/07/12/daily41.html?ana=thestreet

Copyright bizjournals.com 2010

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