Siemens Healthcare revenues slip, earnings rise in Q2

Cost reductions made up for lower revenues in most businesses to bring Siemens Healthcare an increase in profit in its 2013 fiscal second quarter.

For the period (end-March 31), the vendor had revenues of 3.278 billion euros, down 2% from the 3.362 billion euros reported in the second quarter of 2012. Thanks to savings from its ongoing Agenda 2013 initiative, Siemens Healthcare had a quarterly profit of 445 million euros, compared with a profit of 424 million euros a year ago.

In other positive developments, orders were up 3%, driven primarily by the company's imaging business.

On a regional basis, Siemens posted lower revenue in its Europe, Commonwealth of Independent States, Africa, and Middle East (Europe/CAME) and Americas sectors; these declines were not offset by slight growth in Asia and Australia. Significant order growth in the Asia and Australia region was highlighted by double-digit increases in China, the company said.

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