Charges hurt Siemens Healthcare Q4 results
Article Thumbnail ImageNovember 15, 2010 -- A strong performance in Siemens Healthcare's Imaging & IT division was more than overcome by significant goodwill impairment charges in other Siemens healthcare business units in the fourth quarter.
Member Sign In:
MemberID or E-mail Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  


For the period (end-September 30), the Erlangen, Germany-based division posted revenues of 3.4 billion euros ($4.8 billion U.S.), up 9% on an actual basis and 1% on a currency-adjusted basis from the 3.1 billion euros ($4.7 billion U.S.) reported from the fourth quarter last year.

Thanks to impairment charges of 1.2 billion euros ($1.7 billion U.S.) in its Diagnostics division and 96 million euros ($133.7 million U.S.) in charges in its Workflow & Solutions unit, Siemens Healthcare had a net loss of 772 million euros ($1.1 billion U.S.) in the fourth quarter; a year ago, Siemens had a 2009 fourth quarter with net income of 483 million euros ($672.5 million U.S.).

In quarterly highlights, the Imaging & IT division produced profit of 392 million euros ($545.8 million U.S.), a 10% increase from the fiscal 2009 fourth quarter. Siemens credited the earnings growth in part to higher revenue and a favorable product mix. Double-digit order growth in the Americas also included strong demand in the U.S., Siemens said.

Related Reading

Siemens partners with ScImage, November 15, 2010

Siemens offers PERCIST tool for oncology, November 3, 2010

Siemens celebrates CT milestone, November 2, 2010

Siemens scores $25M Rush contract, October 26, 2010

Siemens targets breast cancer awareness, October 13, 2010

Copyright © 2010 AuntMinnie.com