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Siemens gains further momentum in third quarter - Record Sectors profit ? Orders show highest growth since 2008

Wed, 07/28/2010 - 11:29pm
Manufacturing.net

Siemens gains further momentum in third quarter - Record Sectors profit – Orders show highest growth since 2008

Munich, Germany, 2010-Jul-29

Siemens increased both orders and revenue year-over-year in the third quarter of fiscal 2010 for the first time in more than a year. Orders of nearly $21 billion were up 22 percent compared to the prior-year quarter. Revenue rose slightly to just over $19 billion. The book-to-bill ratio – the ratio of orders to revenue – was therefore again above one. Orders and revenue both benefited from currency translation effects. Total Sectors profit climbed 40 percent year-over-year, to a record high of slightly over $2.3 billion. "Siemens gained further momentum in the third quarter," said Siemens President and CEO Peter Löscher. "Such order growth last occurred in 2008. Strong demand took our order backlog to a record level. At the same time, Sectors profit reached its highest point ever, and will clearly exceed the level of the prior year."

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