Siemens AG (SI: Quote) Wednesday said its first-quarter profit dropped 12 percent to 1.21 billion euros from 1.38 billion euros in the same period last year.
Profit attributable to the shareholders of the company declined to 1.20 billion euros or 1.40 euro per share from 1.37 billion euros or 1.54 euro per share last year.
Income from continuing operations totaled 1.30 billion euros, compared to 1.31 billion euros last year. First-quarter includes a loss of 80 million euros from discontinued operations, compared with a profit of 70 million euros last year.Total comprehensive income for the period was 818 million euros.
Adjusted EBITDA from continuing operations totaled 0.57, compared to 0.07 last year.
Orders came in at 19.14 billion euros, down 3 percent from last year. On an organic basis, orders declined 5 percent year-over-year.
First-quarter revenues grew 2 percent to 18.13 billion euros from 17.86 billion euros last year. Revenues were supported by a 4 percent growth in emerging markets.
Organic revenue, excluding currency translation and portfolio effects, was down 1 percent from last year.
Looking ahead to fiscal 2013, the company has forecast income from continuing operations in a range of 4.5 billion euros to 5.0 billion euros.
This outlook includes the effect of retrospective adoption of IAS 19R and assumes charges totaling approximately 1.0 billion euros for program-related productivity measures in the Sectors.
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by RTT Staff Writer
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