Siemens Medical Solutions reported sales of 1.648 billion euros ($2.065 billion U.S.) in its first quarter, down 10% from the 1.831 billion euros ($2.307 billion U.S.) turned in during the first quarter of last year.
Sales on a comparable basis would have been up 5%, however, excluding a 10% currency translation effect, the sale of the company’s Life Support Systems (LSS) business, and a portion of its remaining electromedical systems unit, according to the Erlangen, Germany-based vendor.
The medical division benefited from a 116 million euro ($145.4 million U.S.) gain from portfolio transactions during the period (end-December 31), primarily from the sale of LSS. Group profit climbed to 327 million euros ($409.9 million U.S.), compared with profit of 245 million euros ($307.1 million U.S.) in the same period in 2002.
First-quarter orders reached 1.891 billion ($2.37 billion U.S.), down 3% in actual terms, but up 12% on a comparable basis from the 1.958 billion euros ($2.454 billion U.S.) booked last year.
By AuntMinnie.com staff writersJanuary 26, 2004
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