Siemens Healthineers posted strong overall revenue growth as well as growth in its Imaging business in the third quarter of fiscal 2019.
For the quarter (end-June 30), the company posted earnings of 3.569 billion euros ($3.98 billion U.S.), up 6% compared with 3.3 billion euros ($3.68 billion) in the same period of 2018, after adjusting for currency effects. Net income was 353 million euros ($393.3 million), an increase of 20% from 293 million euros ($326.5 million) in 2018.
The revenue growth was led by the company's Imaging division, which posted total revenue of 2.186 billion euros ($2.44 billion), representing growth of 8% compared with revenues of 1.976 billion euros ($2.2 billion) in the third quarter of 2018.
The Imaging group's profit was 407 million euros ($453.5 million), compared with 333 million euros ($371 million) in the same quarter of 2018. The division's profit margin increased from 16.8% in the third quarter of 2018 to 18.6% this year. Siemens attributed the growth to equipment sales and service, particularly in CT and molecular imaging.
For the nine months ending June 30, the company posted revenues of 10.376 billion euros ($11.56 billion), compared with 9.725 billion ($10.84 billion) for the same period in 2018. Net income was 1.078 billion euros ($1.2 billion), compared with 910 million euros ($1 billion) last year.
