Siemens AG today is reporting 3 percent growth in sales and an earnings gain of 10 percent in its Medical Solutions Group for FY03, ending Sept. 30.
Sales totaled approximately $8.6 billion in FY03, while new orders posted a 7 percent increase to approximately $9 billion. Siemens credited new product releases in the imaging modalities for the growth.
Siemens Medical Solutions Group also achieved a profit gain of 10 percent in FY03 to approximately $1.3 billion. The segment also benefited from a gain of approximately $73 million from a portion of Medical Solutions' electromedical systems unit's new joint venture, Draeger Medical.