Siemens Healthcare's Q4 revenue grows, profit slips

German industrial conglomerate Siemens reported revenue growth in its Siemens Healthcare business for the fourth quarter, but the division's operating profit slipped slightly.

For the period, Siemens Healthcare posted revenues of $4.46 billion (3.584 billion euros), up 3% from $4.33 billion (3.48 billion euros) in sales in the fourth quarter of 2013. The division's operating profit was $761 million (611 million euros), down 1% from $767 million (616 million euros) in the same quarter of 2013.

The company said that profit for the current quarter was held back by lower earnings in the division's imaging and therapy systems business, including unfavorable currency fluctuations. Orders rose in the Americas and the Commonwealth of Independent States, Africa, and Middle East regions, which offset weaker results from China.

In other news, Siemens said on November 6 that it would sell its Siemens Audiology Solutions hearing aid division to investment company EQT and Germany's Strüngmann family of entrepreneurs. The sales price for the division is $2.68 billion (2.15 billion euros).

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