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General Motors Units: The Detroit company’s three...

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From Times Staff and Wire Reports

General Motors Units: The Detroit company’s three principal non-automotive subsidiaries posted mixed first-quarter results. GM Hughes Electronics Corp., the defense systems and vehicle electronics subsidiary, said net earnings fell to $114 million from $183 million a year ago. At General Motors Acceptance Corp., GM’s huge auto finance unit, net income shrank to $306 million from $336 million last year. However, GMAC profit would have risen had it not been for a special $40-million gain, which inflated first-quarter 1990 results. Electronic Data Systems Corp., the GM computer systems unit, reported that its net income rose nearly 11% to $121.8 million, while revenue was up 13.5% to $1.61 billion. EDS credited the gain to continued expansion into new markets as well as strong growth in existing areas of business.

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