GE Profit Up 3.4 Percent

General Electric Co., the world’s largest company by market value, said second-quarter profit rose 3.4 percent as acquisitions and demand for plastics, engine parts and loans fueled the biggest sales gain in almost four years. Net income climbed to $3.92 billion from $3.79 billion a year earlier, Chief Executive Jeffrey Immelt said. Per-share profit was unchanged at 38 cents, 1 cent above his forecast, because of 342 million shares issued to finance its purchase of Amersham Plc. Nine of 11 main businesses had profit gains as “the best economy we’ve seen in years” led to orders for industrial goods and consumer demand for appliances and lighting, Immelt said.

Sony delays PSX games console in U.S.

Sony Corp., the world’s second-largest consumer electronics maker, will delay U.S. sales of its combination PSX game console and DVD recorder to 2005 from the end of this year because the device may not appeal to U.S. consumers. Sony, which gained about two- thirds of its operating profit from its games business in its last business year, will introduce the PSX “some time next year,” Dick Komiyama, head of the company’s electronics unit, said. The PSX is one of a range of new products Sony President Nobuyuki Idei pledged in October would help lift operating profit to 10 percent of group sales by 2007 from 1.3 percent as of the end of March.

SAP license revenue grows

SAP AG, the world’s largest maker of business-management software, said second-quarter license revenue gained 15 percent, beating analyst forecasts, as it took business from competitors. The stock rose for the first day in four. License revenue, a measure of future business, increased to 495 million euros ($613 million) from 431 million euros a year earlier, SAP said. Analysts surveyed by Bloomberg News estimated license revenue of 483 million euros. Walldorf, Germany-based SAP said it released the early statement “given the series of preannouncements in the industry during the past week.”

Unisys profits; sales miss forecast

Unisys Corp., a seller of server computers and consulting services to customers including Cox Communications Inc., said second- quarter profit and sales fell, missing its forecasts. The shares plunged 15 percent to their lowest in more than a year. Net income dropped to 5 cents or 6 cents a share and revenue fell to $1.38 billion to $1.39 billion, the company said in statement. Profit, excluding some costs, was 10 cents to 11 cents a share, Blue Bell, Pennsylvania-based Unisys said. Unisys is among more than a dozen technology companies including PeopleSoft Inc. and Siebel Systems Inc. to say orders didn’t come through as forecast during the final weeks of the quarter. Unisys said its clients deferred orders for servers and delayed service contracts.

AT&T to pay fine for ‘Do Not Call’ violations

AT&T Corp. won a 37 percent reduction of a government fine to end a probe into whether it made sales calls to people who had asked not to be contacted by telemarketers. The company agreed to pay $490,000. AT&T had faced a fine of $780,000, the Federal Communications Commission said in a ruling on its Web site. Bedminster, N.J.-based AT&T, which denied any wrongdoing in the settlement, won the reduction by persuading the FCC the infractions won’t happen again. AT&T, the largest U.S. long-distance company, “has committed itself to a very strong compliance program that we hope ensures that problems don’t emerge in the future,” said Kurt Schroeder, deputy division chief in the FCC’s Enforcement Bureau.

Cinram buys The Entertainment Network

Cinram International Inc., the world’s second-biggest maker of digital video discs, acquired The Entertainment Network Ltd. for an undisclosed price to expand its distribution business in western Europe. The Entertainment Network, or TEN, is a joint venture between Sony Corp. and Warner Music Group that distributes DVDs, CDs and computer-game software to stores, Toronto-based Cinram said in a statement. Lyne Beauregard, a spokeswoman for Cinram, declined to disclose TEN’s sales or profit. Cinram Chief Executive Officer Isidore Philosophe is expanding the DVD business as videocassette sales fall. Cinram last year bought Time Warner Inc.’s CD- and DVD- manufacturing operations for $1.05 billion. The TEN purchase adds distribution facilities to Cinram’s U.K. manufacturing operations.>BLOOMBERG NEWS SERVICE