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Industrial conglomerate General Electric (GE - Free Analyst Report) recorded mixed second-quarter results. Revenues fell 4% year over year, due to industrial dispositions, decreased equipment orders, and lower operating assets at its GE Capital unit. Still, earnings advanced 15% during the interim, to $0.30 a share.

Improved macroeconomic conditions, coupled with management's reorganization measures, have started to support results. Previously, the collapse of the subprime mortgage markets, a bleak real estate environment, and the credit crisis had triggered hefty losses at GE Capital. Amid these difficult conditions the conglomerate began to restructure this business, setting the stage for a rebound. Overall, General Electric bolstered its infrastructure and industrial segments and has been strengthening its financial position.

Indeed, the groundwork laid in prior periods started to take hold in the June quarter. Results at GE Capital have likely bottomed, and the segment's earnings are starting to rebound. In fact, the division's operating profits climbed to $830 million, almost double the year-ago number.

We believe the company has weathered the worst of the storm, and we look for management's efforts to be accretive to earnings over the next several quarters. In all, General Electric ought to generate a high-single-digit percentage bottom-line gain for all of 2010.

However, the issue has been somewhat volatile over the last few quarters, and investor concerns over General Electric’s near-term prospects may trigger additional stock-price fluctuations.

About The Company: Founded in 1892, General Electric Company has grown into one of the largest and most diversified industrial companies in the world. Its largest divisions include Energy Infrastructure (24% of ’09 revenues); Technology Infrastructure (27%); NBC Universal (10%); Consumer & Industrial (6%); and Capital Finance (33%). On a geographic scale, more than half of General Electric’s revenues came from overseas last year.