GE Gives Up Its Numbers

In the wake of Enron's recent collapse, corporate giant General Electric recently announced that it will provide more detailed financial information about its various divisions, including its GE Capital IT Services (GECITS) unit. The company has agreed to provide specific revenue and profit numbers for 26 different business segments,from its industrial units to its capital units,compared with the 12 that had been previously reported. The changes will be noticed in GE's annual report, which will be released this month.

Maybe someone heard the ruckus that took place last spring here at VARBusiness as we compiled the 2001 VARBusiness 500 and GE's notoriously tight-lipped financial reporting frustrated editors who tried to verify revenues for General Electric's IT services division. (For the record, GECITS came in at No. 5 on the ranking)

Reponses by GE's public relations staffers to numerous calls and e-mails at that time repeatedly stated that GE does not break down nor release its revenue by divisions, including the elusive GE Capital IT Solutions.

Looks like the folks at GE won't have the same excuse this time around.