MUNICH, Germany-Siemens AG posted a fourth-quarter net profit of $847.6 million, or 94 cents per share, beating analysts’ expectations. For the fiscal year, it basked in a net income of $2.8 billion, representing a 47-percent increase from $1.94 billion a year ago.
In its mobile business, overall sales totaled $3.1 billion, comparable to a year ago, although orders rose 12 percent.
Its infrastructure business increased its profits to $70 million, while handset sales jumped to $1.4 billion.
“Following the volume declines of the past year, which were substantially driven by currency translation, our goal in fiscal 2004 is to restore growth and win market share,” said Siemens chief executive officer Heinrich v. Pierer.
