Shares of GE HealthCare GEHC rose 1.3% in premarket trading Monday, reversing an earlier loss, after the medical technology and pharmaceutical diagnostics company reported its first results as a public company, with fourth-quarter profit falling from a year ago while revenue rose. The company, which completed its spinoff from General Electric Co. GE on Jan. 3, said net income slipped 1.8% to $554 million, as earning per share from continuing operations fell to $1.21 from $1.24.
GE on Jan. 3, said net income slipped 1.8% to $554 million, as earning per share from continuing operations fell to $1.21 from $1.24. Excluding nonrecurring items, adjusted EPS fell to $1.31 from $1.36, while standalone adjusted EPS, which includes standalone costs, was $1.21. Revenue grew 7.6% to $4.94 billion. Cost of products and services sold rose more than revenue, up 10.2% to $3.01 billion, as gross margin contracted to 39.1% from 40.6%.