Driven by strong performances in its Imaging and Advanced Therapies divisions, Siemens Healthineers reported 8% revenue growth after currency conversions in its fourth quarter (end-September 30).
For the period, Siemens Healthineers posted fourth-quarter revenue of $4.617 billion (4.142 billion euros), up 8% after adjusting for currency changes compared with sales of $4.129 billion (3.704 billion euros) in the corresponding quarter of 2018. Net income for the most recent quarter was $565 million (507 million euros), compared with net income of $417 million (374 million euros) in the fourth quarter of fiscal 2018.
The company said that its fourth-quarter numbers were driven by "very strong growth" in its Imaging and Advanced Therapies divisions, with a "moderate" increase in its Diagnostics business. Sales were solid across all geographical regions, with "significant growth" in Asia, Australia, and the Americas.
The Imaging business posted revenue of $2.893 billion (2.595 billion euros), up 10% after currency adjustment compared with sales of $2.549 billion (2.287 billion euros) in the fourth quarter of 2018. The Imaging division's profit was $623 million (559 million euros), compared with $510 million (458 million euros) in the same period the year before. The Advanced Therapies business saw revenue growth of 14% after currency adjustment, while the Diagnostics business grew at a slower 2% rate.
The company forecast that it expected revenue growth after currency adjustment in the 5%-6% range in fiscal 2020.
