General Electric said Tuesday afternoon that it was affirming its outlook for its earnings this year, but that it would not provide any earnings guidance for next year.
G.E., which makes generators, aircraft engines and medical devices, also said it would no longer provide quarterly earnings forecasts going forward.
The company said it expected to earn $1.78 to $1.84 a share in 2008.
It said it would still pay a dividend of 31 cents a share in each quarter of next year.
G.E. has already announced plans to significantly shrink its finance arm, GE Capital, because of continuing turmoil in the financial markets.
The company said earlier this month that it would cut an unspecified number of jobs and restructure the unit, which makes consumer and commercial loans.
[Via nytimes.com]
Frank Wilson is a retired teacher with over 30 years of combined experience in the education, small business technology, and real estate business. He now blogs as a hobby and spends most days tinkering with old computers. Wilson is passionate about tech, enjoys fishing, and loves drinking beer.
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