MUNICH, Germany-German vendor Siemens AG said it surpassed market expectation with a group net profit of $992.3 million, or $1 per share, in contrast to a year ago when it earned $661.7 million, or 75 cents per share.
“I am particularly pleased that on a currency-adjusted basis, we are again showing growth,” said Siemens Chief Executive Officer Heinrich v. Pierer. “At a macroeconomic level, however, I am concerned that further strengthening of the euro against the dollar could have potential adverse effects on the competitiveness of the European industry.”
In its mobile business, the company recorded a net profit of $156 million on what it described as a “sharp earnings improvement at the Mobile Networks division, strong handset sales and continuing profitability in its cordless products business.”
Sales rose 6 percent to $3.6 billion and orders were $3.8 billion, a 23-percent leap from a year earlier. The infrastructure division earned $33 million on sales of $1.4 billion compared with a loss of $25 million on sales of $1.3 billion a year ago.
The handset division enjoyed a boost with an $81 million net profit on sales of $1.7 billion as against $66 million on revenues of $1.6 billion.
The company claims to have outsold its handset competitors in the Americas.
