Siemens Medical's profit dips in Q2

Siemens Medical Solutions of Erlangen, Germany reported that currency effects dampened its revenues for second quarter (end-March 31), which would otherwise have risen 5%.

The medical division reported second-quarter sales of 1.708 billion euros ($2.023 billion U.S.), down 7% in actual terms but up 5% on a comparable basis from the 1.830 billion euros ($2.178 billion U.S.) booked in the second quarter last year. For the period, Siemens had net income of 228 million ($270 million U.S.), down 11% compared with the 255 million euros ($302 million U.S.) posted a year ago.

Siemens said that the second-quarter sales reflect a 7% currency translation effect, as well as the sale of its life-support systems business and the transfer of a portion of its electromedical systems business into a joint venture.

By AuntMinnie.com staff writers
April 28, 2004

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