Sales from recent acquisitions helped the healthcare division of German industrial conglomerate Siemens AG kick off fiscal-year 2008 with increases in both revenues and profit in its first fiscal quarter (end-December 31).
Revenues at Siemens Medical Solutions increased to $2.65 billion euros ($3.86 billion U.S.), up 26% compared with $2.1 billion euros ($3.06 billion) in the first quarter of fiscal year 2007. The division's profit rose to $332 million euros ($484 million), a gain of 9% over $304 million euros ($443.8 million) in the same quarter of fiscal-year 2007.
New orders also advanced in the first quarter to $2.8 billion euros ($4.08 billion), compared with 2.21 billion euros ($3.22 billion) in the same quarter last year.
Parent company Siemens AG credited the rise in first-quarter results to its healthcare division's ability to more than offset the effect of negative currency trends and a weaker U.S. market through new volume from acquisitions.
Related Reading
Siemens inks Florida CT deal, January 25, 2008
Siemens receives FDA nod for Artiste, January 24, 2008
Siemens loses first round in Saint-Gobain suit, January 14, 2008
Siemens Medical changes corporate name, January 10, 2008
London hospital to install Siemens' 3-tesla MRI unit, January 10, 2008
Copyright © 2008 AuntMinnie.com
