A lackluster U.S. economy and continued regulatory shipping restrictions on its surgical supplies business adversely affected revenues and profits at GE Healthcare in the first quarter of 2008.
For the period (end-March 31), revenues for the Chalfont St. Giles, U.K.-based vendor dipped slightly to $3.88 billion, compared with $3.89 billion in the first quarter of 2007. Profit decreased to $528 million, compared with $637 million in the same quarter a year ago.
In its first-quarter financial report, parent company General Electric of Stamford, CT, noted that GE Healthcare was "impacted by a difficult U.S. environment" and cited the ongoing suspension of C-arm deliveries from its GE OEC Medical Systems unit as part of a consent decree with the U.S. Food and Drug Administration.
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