Tomahawk, WI 10/21/2013 (BasicsMedia) – When General Electric Company (NYSE:GE) recently published its quarterly financial results, what I noticed is that its quarterly profits continue to decline. What worries me even more is the fact that GE’s quarterly revenue is on a decline as well. This is massive news for a company of GE’s stature bearing in mind that it boasts of a market cap of more than $260 billion. However, one issue that came up when the company’s financials were being announced, and which has given me great hope, is its massive backlog of orders that encourage me to look forward to 2014.

GE Would Face Uncertain Future if not for the Backlog of Orders

If not for the massive backlog of orders, I think there would not be much to look forward to where GE is concerned. If the company can work on servicing these orders, you would be forgiven for saying that it has already raised some revenue in 2014. Its backlog for orders has shot up by more than 10% during this quarter, thus giving hope that 2014 will be a much better year than 2013 has been. Impressively, these backlog orders are not only for a single item but also for several ranging from turbines, to locomotives, to jet engines and other products GE makes.

GE’s Orders from Europe, U.S. and China on an Increase

I must mention that GE’s progress is not fast enough. If you are looking for fast progress, I think GE will disappoint you. Nevertheless, its progress is steady and this gives investors hope that not only 2014, but the future in general looks quite good if GE starts servicing these massive backlog of orders. The growth of backlog orders is more or less the same between the U.S and Europe, at 18% and 17% respectively, in the GE’s latest quarterly financial results. Oil pumps and wind turbines are the two products that have helped maintain this level of growth in GE’s orders.

GE has also seen its backlog of orders from China rise by a similar margin to that of the U.S and Europe. China falls in the category of what has become known as emerging markets, which presents a formidable market and plenty of opportunities for growth for GE. The orders from China are mostly related to its massive interest in renewable energy, in addition to the upgrading of hospital equipment. GE”s medical diagnostic equipment is in great demand in Chinese’ hospitals and this has convinced investors that 2014 will be a great year for this company.

GE Benefiting from Improving Global Economy

GE will continue experiencing a wonderful 2014 primarily because of the improving global economy where the demand for greater air transport has gone up considerably. Generation of electricity has seen a growth in demand around the globe as well, and I think that this will increase GE’s revenue quite substantially not only in 2014, but also for many years to come. Its net income for this quarter may have fallen from $3.49 billion in the same period last year to $3.19 billion in 2013, but there are plenty of good things to look forward to in 2014 with GE.

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