Earnings from its diagnostics division and the sale of a portion of its stake in Draeger Medical boosted profits at Siemens Medical Solutions in the company's second fiscal quarter (end-March 31).
Second-quarter revenues for the Erlangen, Germany-based company increased 20% to 2.47 billion euros ($3.36 billion U.S.), compared with 2.05 billion euros ($2.78 billion) in the second quarter of the previous fiscal year. Group profit rose to 332 million euros ($451.5 million), compared with 260 million euros ($353.6 million) in the same quarter a year ago.
Gains in Siemens' diagnostics division offset purchase price accounting effects and integration costs associated with the acquisitions of diagnostic products and the diagnostics division of Leverkusen, Germany-based Bayer.
New orders climbed to 2.54 billion euros ($3.46 billion), compared with 2.1 billion euros ($2.7 billion) in the second quarter of last year.
By AuntMinnie.com staff writers
April 26, 2007
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