Siemens Reports Q2 Results
Apr 27, 2005
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For the second quarter ended March 31, 2005, Siemens, a German electronics maker, reported net income of 781 million euros (approx. U.S. $1 billion) and basic and diluted earnings per share of 0.88 euros (approx. $1.14) and 0.84 euros (approx. $1.09), respectively.

In the second quarter of 2004, net income was 1.2 billion euros (approx. $1.6 billion) and basic and diluted earnings per share were 1.36 euros (approx. $1.76) and 1.30 euros (approx. $1.69), respectively. Prior-year results included a 590 million euros (approx. $765 million) pretax gain on the sale of shares in Infineon plus a related 246 million euros (approx. $319.1 million) reversal of deferred tax liability, partly offset by a 433 million euros (approx. $561.7 million) goodwill impairment. Excluding the net result of these effects, 403 million euros (approx. $522.8 million), net income in the prior-year period was close to the level in the current period, the company said.

Second-quarter 2005 sales were up 4 percent from 2004, to 18.6 billion euros (approx. $24.1 billion), and orders increased 5 percent, to 20.7 billion euros (approx. $26.9 billion). Excluding currency translation effects and the net effect of acquisitions and dispositions, sales and orders increased 1 percent compared to the second quarter a year earlier.

International sales rose 8 percent, compared to a 7-percent decline in Germany. Within international sales, growth in the Americas and Asia-Pacific regions outpaced growth in Europe. International orders were up 5 percent year-over-year, compared to 3 percent growth in Germany. Within international orders, the primary growth driver was Asia-Pacific with a 16- percent rise.

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