Multimodality vendor Siemens Medical Solutions of Erlangen, Germany posted a fiscal third-quarter profit of 332 million euros ($380.5 million, U.S.), compared with a profit of 243 million euros ($278.5 million) for the same period in 2002. The medical division enjoyed the highest profit of all Siemens business groups, the company reported.
Currency fluctuations took a toll on sales and order growth for the quarter (end-June 30). The medical group reported revenues of 1.721 billion euros ($1.972 billion), a decrease of 9% compared with figures from a year ago. Orders were impacted as well, showing a third-quarter total of 1.702 billion euros ($1.951 billion), a decline of 11% from the same period the previous year.
After accounting for currency effects, sales grew 4% and orders rose 1% compared to last year’s third quarter. The gains occurred in spite of slower market growth, particularly in the U.S., according to the company.
By AuntMinnie.com staff writersJuly 24, 2003
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