German industrial conglomerate Siemens AG announced positive results for its Siemens Healthcare business in its fiscal 2010 third quarter (end-June 30).
Healthcare revenue rose to 3.152 billion euros ($4.12 billion U.S.) during the period, compared with 2.865 billion euros ($3.74 billion) in 2009, representing growth of 10% on an actual basis and 4% after currency adjustments. Sales growth came out of Australia, Asia, and the Americas and benefited from currency rates, according to Siemens.
The company's healthcare business reported an 87% profit increase, posting a profit of 506 million euros ($662 million), compared with a profit of 270 million euros ($353 million) in 2009. Siemens attributed the boost to a stronger market and its own cost-cutting measures.
Among healthcare divisions, profits at the Imaging and IT unit rose 17.6% to 329 million euros ($430 million) from 277 million euros ($389 million) in 2009. The division's revenue rose 11% to 1.868 billion euros ($2.4 billion), compared with 1.688 billion euros ($2.2 billion) in the same period last year.
Siemens said that the division's profit, revenues, and orders showed growth in a more favorable market environment. Profit rose due to higher revenue and "cost discipline," while the division's year-ago profit was affected by 128 million euros in charges at its workflow and solutions division. The company also saw higher orders in its three main geographic regions.
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