General Electric of Fairfield, Conn., reported that...

General Electric of Fairfield, Conn., reported that its first-quarter profit climbed 5% on a 6% decline in sales. GE cited modernization investments for the increased earnings. The company said that all divisions contributed to the improved profits.

North American Philips said first-quarter profit climbed 20.4% from a year earlier on a 4% sales gain. Philips is a leading maker of consumer electronics and electrical components whose brand names include Magnavox, Philco, Sylvania and Norelco. Philips attributed the improvement to strong gains by its professional-equipment division, whose products include medical systems. The company said that its year-earlier results included a $6-million gain from the redeployment of certain assets.

City of Commerce-based Federated Group, a home-entertainment and consumer-electronics retailer, reported record earnings for the fiscal year and fourth quarter ended March 3. The firm, headquartered in the City of Commerce, reported that net income increased 91% for the fiscal year over the preceding fiscal year. According to Chairman Wilfred Schwartz, there were a number of reasons for the increases. “In addition to operating 43 stores during fiscal 1985 (including the 12 stores in Texas acquired on Dec. 1 from Videoland), compared to 20 during the preceding year, we also experienced a maturing of existing stores and an increased gross-profit margin.”

For detailed data and results of other companies, please see accompanying tables.