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Sales increased to $2.6 billion while profit climbed to $444 million.
Loss of power has seen pay fall while profit rises as a share of GDP.
While profit projections have declined, they may still be way too bullish.
Revenue at in the transportation division, which makes locomotives, rose 7% while profit increased 11%.
While profit margins have plateaued in corporate America, productivity gains in the overall economy have ebbed as well.
As a result, revenues grew by 12percentt compared with the same quarter a year ago, while profit declined slightly.
For all of 2002, sales rose 4percentto to $6.17 billion, while profit jumped 20percentto to $534.6 million.
The bank's overall revenue fell 3percentt from the quarter a year earlier, while profit fell 7percentt.
Underlying sales were up just over 1% while profit margins suffered as it was forced to cut prices to compete.
Revenue at the NBC Universal unit, another spinoff candidate, rose 7percentt while profit eked out a 1percentt gain.
The taxpayer shouldered the risk, while profit was privatised: or "heads they win and tails we lose".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com