GE profit dips; double-digit growth seen in '12

LONDON (MarketWatch)
General Electric Co. on Friday reported a first-quarter profit of $3.03 billion, or 29 cents a share, down from $3.43 billion, or 31 cents a share, a year earlier
Operating earnings came in at 34 cents a share
Sales slipped to $35.18 billion from $38.33 billion, a year earlier
Analysts polled by FactSet Research were looking for a profit, on average, of 33 cents a share on sales of $33.75 billion
"This quarter we witnessed broad-based strength in orders across all our Infrastructure businesses and in both equipment and services," Chairman and CEO Jeff Immelt said
"We see encouraging leading indicators driven by global growth."
He said GE is positioned for double-digit growth, and that the company's cash plan remains solid