Siemens Gives optimistic outlook with more profit
Siemens Gives optimistic outlook with more profit
Siemens AG which is Europe’s largest engineering company raised its profit for the year and the income rose 40 percent, beating the estimates.
Operating income at Siemens’s energy, health-care and industry divisions, increased to $3 billion in this quarter ended June 30, as the company benefited from demand and cost savings.
Siemens has planned to end a program that placed around 19,000 workers on shorter shifts as factories had lower demand during the financial crisis.
The company said, Net income went up to 12 percent to 1.41 billion euros. Orders went up to 22 percent to 20.87 billion euros, compared with the estimated value of 19.1 billion euros.
Siemens is cutting down 4,200 jobs at its SIS computer-services division, as it lost 81 million euros in the quarter.
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