GE’s transportation business generated strong results in the first quarter 2012 based on infrastructure growth opportunities in the markets in which it operates.
GE Transportation reported $1.3 billion in revenues, up 41% compared to the same period of last year. Segment profits grew by 48% to $232 million. In addition, orders increased to $1.6 billion, up 67%, in the first quarter driven by North American and international locomotive deals, including a follow on order for 43 locomotives from Transnet in South Africa.
“We started strong in 2012 and will continue to capitalize on dynamic infrastructure growth opportunities worldwide,” said Lorenzo Simonelli, President and CEO of GE Transportation. “We invest heavily in leading technology, new products, the expansion of our manufacturing operations, and our workforce for the benefit of our customers in the U.S. and around the globe.”
Read the press release here.