Siemens Medical Solutions was one of the top earnings contributors at German technology conglomerate Siemens in the company's third quarter (end-June 30), although the group's sales dipped slightly.
The medical division produced third-quarter sales of 1.837 billion euros ($2.324 billion U.S.), down 4% compared with the 1.921 billion euros ($2.430 billion) posted in the third quarter of 2005. For the period (end-June 30), the Malvern, PA-based vendor had a group profit of 233 million euros ($294.7 million), compared with the 241 million euros ($304.8 million) posted a year ago.
Siemens said the difference in earnings was primarily volume-related, as the group's profit margin increased to 12.7%, up from 12.5% a year ago. Orders reached 2.088 billion ($2.641 billion), down 1% (up 1% on an adjusted basis) from the 2.119 billion euros ($2.68 billion) posted last year.
The company said that quarterly highlights included its increased investment in diagnostics through proposed acquisitions of Diagnostic Products Corporation of Los Angeles and Bayer Diagnostics of Germany.
By AuntMinnie.com staff writers
July 27, 2006
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