Siemens sees healthcare revenues grow in Q2

By staff writers

May 4, 2016 -- Order and revenue growth in the U.S. powered Siemens Healthcare to gains in financial results for parent company Siemens' second fiscal quarter (end-March 31).

Revenues increased in the second quarter to 3.32 billion euros ($3.8 billion U.S.), up 3% on an actual basis and 5% on a currency-adjusted basis from 3.21 billion euros ($3.7 billion U.S.) in the second quarter of fiscal 2015. Profit within the Healthcare business segment rose 5% to 555 million euros ($636.2 million U.S.), compared with 526 million euros ($605 million U.S.) in the same quarter last fiscal year.

Siemens credited its diagnostic imaging business for both the second-quarter revenue gain and the profit advance. Orders for the period also grew, up 1% on an actual basis and 3% after currency adjustments.

Second-quarter results included a gain of 61 million euros ($70.1 million U.S.) from the sale of Siemens Healthcare's microbiology business. The segment's profit also improved due to currency hedging.

The company today also unveiled the new name of its healthcare business: Siemens Healthineers. It will continue to be managed as a separate entity within the parent company as part of Siemens' overall Vision 2020 strategy.

Copyright © 2016

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