GE Profits Rise 13% in 4th Quarter, Year

General Electric Co. said Wednesday that its fourth-quarter and full-year 1984 earnings climbed 13% from a year earlier.

Net income for last year’s final quarter rose to $652 million from $579 million a year earlier, the Fairfield, Conn.-based company said. Revenue rose 7% to $7.98 billion from $7.43 billion.

For the full year, GE said its profit climbed to $2.28 billion, or $5.03 a share, from $2.02 billion, or $4.45 a share, in 1983. Annual revenue edged up 4% to $27.95 billion from $26.8 billion.

GE noted, however, that it sold its Utah International unit, a natural resources company, and its housewares business during the second quarter of 1984. Adjusting for those sales, fourth-quarter revenue rose 14% from a year earlier and 1984 revenue was up 10% over the previous year, it said.

“Most of our key businesses contributed to the increased sales and earnings,” John F. Welch Jr., chairman of the diversified concern, said in a statement. “Consumer-related businesses such as major appliances, lighting and plastics had excellent productivity gains and experienced good demand, although the rate of sales increase slowed in some markets as the year progressed.”

“Strong sales and earnings growth continued in high-technology businesses, such as aerospace and aircraft engines,” he added. “Similarly, financial services affiliates had a very good year.” AMR

AMR Corp., parent of American Airlines, said that its fourth-quarter net income tumbled 79.6% from its record year-earlier level. But the Fort Worth-based company’s full-year 1984 profit edged up 2.6% to a record $233.9 million.

Fourth-quarter net income dropped to $23.6 million from $115.6 million a year earlier. Revenue rose 5.5% to $1.35 billion from $1.28 billion.

AMR said the latest results were adversely affected by a $13.6-million pretax provision related to special work-force reduction programs and by a $7.8-million write-off in exploration costs connected with its oil and gas unit. In addition, the fourth-quarter 1983 profit had included a $21.6-million gain from the sale of tax benefits.

Still, AMR’s fourth-quarter earnings from operations skidded 70.6% to $38.4 million from $130.5 million. The company attributed the decline to a 10.2% drop in yield--the average amount of revenue received per each mile a passenger is flown--from a year earlier.

AMR’s full-year 1984 net income edged up to $233.9 million from $227.9 million in 1983. And its earnings from operations jumped 31% to $368.5 million from $281.5 million. Full-year revenue rose 12.4% to $5.35 billion. For detailed data and results of other companies, please see tables, Page 17.