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General Electric Company : Martin Guitars Picks GE Capital for New Consumer Credit Program

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10/13/2011 | 06:31pm CET
13 October 2011

Martin Guitars Picks GE Capital for New Consumer Credit Program

New Financing Program Available at Martin Dealers Nationwide

KETTERING, Ohio and NAZARETH, Pa., - October 13, 2011 – GE Capital’s Retail Finance business, a consumer lending unit of General Electric Company (NYSE: GE), has announced a new agreement to provide consumer financing through C.F. Martin & Co., Inc authorized dealers nationwide.
Under the new multi-year agreement, consumers can finance the purchase of a Martin Guitar on the National Association of Music Merchants card, backed by GE Capital.
“For more than 175 years, Martin guitars have been the standard by which acoustic guitars are measured,” said Dennis Murphy, vice president of sales for GE Capital’s Retail Finance business. “We’re honored to work with Martin & Co. They have a long tradition of quality and success, and we want to help them continue that tradition.”
C.F. Martin & Co., Inc., a family-owned business headquartered in Nazareth, Pennsylvania, began making guitars in 1833. Martin guitars have been used by numerous world-famous musicians over the decades and the company recently manufactured its 1.5 Millionth guitar. Martin guitars are sold at more than 450 music stores across the country.
“Like Martin Guitars, GE Capital has a lot of experience at what they do,” explained Steven Carletti, vice president, sales, for C.F. Martin & Co., Inc. “We appreciate their knowledge of the retail sales business. We think this will be a very powerful relationship going forward.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States. GE Money is a leading provider of consumer credit in the music industry and supports its retail clients with online technology such as the Business Center, which includes service, training, marketing and sales tools.
About C.F. Martin and Company
C.F. Martin & Co. (www.martinguitar.com) has been creating the finest instruments in the world for over 175 years. It continues to innovate, introducing techniques and features that have become industry standards including X-bracing, the 14-fret guitar and the "Dreadnought" size.
One of the world's leading acoustic instrument makers, Martin guitars are hand-made by skilled craftsmen and women, who use a combination of new design and techniques along with those introduced by the company founder.
The company is also known for producing high-quality, popular acoustic guitar strings. These include the Martin SP® LIFESPAN™ line - the fastest-growing treated string in the industry, and the Martin SP line - which uses an industry leading core wire to hold tunings better.
Martin guitars and Martin Strings are the instruments and strings of choice for musicians around the world, from the icons of rock, country, folk and bluegrass to those just beginning their careers. They can be seen across all segments of pop culture, from television (Glee, Psych, Raising Hope and American Idol) to the movies; on Broadway and in books, online, and gracing the covers of popular magazines on newsstands everywhere. Connect with Martin and Martin Strings on Facebook, Twitter, Tumblr, YouTube and via www.martinguitar.com and www.martinstrings.com.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides credit card programs to retailers and consumers in the United States and Canada. This includes customized private label and bankcard credit programs to major retailers in the U.S., as well as private label credit card programs, promotional and installment lending, bankcards and financial services for consumers through dealers; national, regional and independent retailers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries including: automotive, appliances and consumer electronics, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @ GECapital.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. From aviation and power generation to financial services, healthcare solutions, oil and gas and rail, GE operates in more than 100 countries and employs about 300,000 people worldwide.www.ge.com.

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Cristy Williams


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Financials ($)
Sales 2017 124 B
EBIT 2017 10 882 M
Net income 2017 7 225 M
Debt 2017 68 338 M
Yield 2017 4,87%
P/E ratio 2017 24,67
P/E ratio 2018 19,07
EV / Sales 2017 1,82x
EV / Sales 2018 1,70x
Capitalization 158 B
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Mean consensus HOLD
Number of Analysts 16
Average target price 21,2 $
Spread / Average Target 17%
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John L. Flannery Chairman & Chief Executive Officer
Daniel Janki Treasurer & Senior VP-Global Operations
Jamie S. Miller Chief Financial Officer
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