Siemens Medical books positive Q1 2008

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Siemens reports rise in revenues. Source: SIGA Management Group  

Siemens Medical Solutions reported growth in group profit, revenue and net orders in unaudited and preliminary results for the first quarter of 2008, which ended Dec. 31, 2007.

For the quarter, the company reported revenue of $3.88 billion (€2.653 billion) compared to $3.08 billion (€2.10 billion) in the same quarter of last year.

Net orders rose for the quarter as well, to $4.1 billion (€2.806 billion) from $3.24 billion (€2.211 billion) last year.

Group profit grew to $488.5 million (€332 million) in the quarter, a 9 percent rise compared to $447.3 million (€304 million) in the prior-year period.

Siemens said the increase “benefited from the Diagnostics division, which closed its acquisition of Dade Behring and reporting earnings of $98.6 million (€67 million) in the first quarter.”

In November 2007, the company announced plans to organize its operations in three sectors, Industry, Energy and Healthcare, into relation divisions in January 2008. Financial reporting will be adapted in the third quarter of fiscal 2008 to reflect those changes.