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| Siemens’ profit from operations up in 1Q despite declining revenue German engineering giant Siemens was again profitable in the first quarter of the new fiscal year. Despite declining revenue, nearly all the company's businesses reached their defined margin targets. Although the order situation stabilized, new orders remained at a significantly lower level than before the crisis due to continued weak demand worldwide. In the first quarter of fiscal 2010, which ended on December 31, 2009, Siemens generated revenue of €17.4 billion. Excluding currency translation and portfolio effects, this was an eight percent decline compared to revenue in the comparable prior-year period of €19.6 billion. Ongoing weak customer demand also impacted new orders, which fell 11 percent on an organic basis, from €22.2 billion in the prior-year period to €19.0 billion, but were slightly above the level of the immediately preceding fourth quarter of 2009. At the end of December, the order backlog was slightly above €83 billion, compared to some €81 billion at the end of September 2009. write your comments about the article :: © 2010 Construction News :: home page |