ge_ar2007_full_book

ge_ar2007_full_book - General Electric Company Faireld,...

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GE Annual Report 2007 Invest and Deliver Every Day
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Delivering for You 152 137 124 105 173 2003 2004 2005 2006 2007 CONSOLIDATED REVENUES (In $ billions) Compounded annual growth rate of 13% 19.4 17.4 15.6 13.3 22.5 2003 2004 2005 2006 2007 EARNINGS FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGES (In $ billions) Compounded annual growth rate of 14% Third straight year of organic revenue growth of 2 to 3 times GDP growth Earnings per share (EPS) of $2.20, an increase of 18% Global revenue growth of 22%, more than half of revenues outside the U.S. Orders growth of 18% Equipment backlog of $49 billion, an increase of 54%; service backlog of $109 billion, an increase of 17% Financial services assets growth of 16% Free cash ± ow of $19 billion; industrial cash from operating activities growth of 15% Dividend increase of 11%, 32 nd straight annual increase $25.4 billion returned to investors through the dividend and stock buyback One of ² ve “Triple-A”-rated U.S. industrial companies Note: ±inancial results from continuing operations unless otherwise noted TOP TEN 2007 GROWTH FACTS ABOUT YOUR COMPANY CONTENTS 1 Letter to Investors 12 Invest and Deliver … Every Day 36 Governance 38 Citizenship 39 ±inancial Section ²114² Corporate²Management ²116² Corporate²Information
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Housing was particularly challenged. After fueling consumer wealth for many years, U.S. housing prices declined for the F rst time in 40 years. Subprime lending standards and complex investment products with risks that were not clearly understood created a “hangover” for consumers and F nancial institutions. The environment we face today is a challenging one. How will the U.S. consumer respond to falling housing prices? Should we worry about in± ation or recession or both? Can the global markets expand while the U.S. contracts? What impact will the U.S. election have? Will banks resume lending money again at normal levels — when, and at what price? You could try to pick the perfect investment for this environ- ment, but it would be a challenge. Maybe it is in technology, or emerging markets, or commodities, or Treasury bills. Or, you could pick GE. A company leading in the essential themes of this global era. A high-performance company F lled with strong businesses. A company dedicated to developing leaders. A company built to perform in good times and bad. One reason for my conF dence is our performance. Even in these difF cult markets, 2007 was another record-setting year. Revenues grew 14% to $173 billion. Earnings from continuing operations grew 16% to $22.5 billion. We generated record indus- trial cash ± ow, and returned $25.4 billion to investors through the dividend and stock buyback. We performed well against the operating metrics that we use to measure our progress. Organic revenue growth was 9%, surpassing our goal of growing at 2 to 3 times GDP growth.
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This note was uploaded on 01/17/2012 for the course ECON 112 taught by Professor Tres during the Spring '11 term at Assumption College.

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ge_ar2007_full_book - General Electric Company Faireld,...

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