Siemens Medical earnings soar

A strong performance in the company's imaging units helped Siemens Medical Solutions report fiscal 2002 (end-September 30) sales of $7.7 billion (U.S.), up 6% compared with fiscal 2001, Siemens said. The Erlangen, Germany-based vendor posted record profitability, with earnings before interest and taxes (EBIT) of $1 billion, compared with $816 million reported in fiscal 2001.

EBIT margin gained more than two percentage points to 13.4%, reflecting new products in the unit's imaging systems divisions, according to Siemens. Orders were stable at $8.5 billion, Siemens said.

For the fourth quarter, Siemens had sales of $2.1 billion, up 3% compared with the fourth quarter last year despite a 7% negative currency effect. The firm had record fourth-quarter profits of $304 million, compared with the $227.3 million posted in the fourth quarter last year.

Siemens had a 2% decline in fourth-quarter orders, with bookings falling to $2.4 billion. Without a 6% negative currency effect, Siemens said it would have had a 4% increase in orders.

By AuntMinnie.com staff writers
November 14, 2002

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