Siemens Healthineers saw strong growth in its Imaging business in the third quarter of fiscal 2018, but the division's financial performance was affected by unfavorable currency exchange rates.
For the quarter (end-June 30), the Imaging unit posted total revenue of $2.31 billion, representing growth of 3% before adjustment compared with revenues of $2.25 billion in the third quarter of fiscal 2017. After currency adjustment, however, the business would have grown at an 8% rate, the company reported.
The Imaging group's profit was $389.3 million, compared with $404.5 million in the corresponding quarter of 2017. Its profit margin also fell, however, to 16.8% from 18.0% the same quarter the year before.
The business saw growth driven by its molecular imaging, x-ray products, and MRI divisions. On a regional basis, growth was strong globally, particularly in the U.S. and Germany, the company noted.
