German industrial conglomerate Siemens AG (SI) posted higher second-quarter net income attributable to the shareholders of the company of 1.01 billion euros, including a positive contribution from discontinued operations, compared with last year's profit of 904 million euros. Corresponding quarterly earnings per share were 1.18 euros, up from 1.02 euros in the prior-year period, benefiting from share buybacks between the periods under review.
Three-month Income from continuing operations was 982 million euros, versus 979 million euros a year earlier.
However, the firm clocked revenues of 18.01 billion euros, down 7% from the prior-year figure of 19.30 billion euros, but second-quarter orders came in at 21.45 billion euros, up 20% year-over-year due mainly to large orders.
Looking ahead to fiscal 2013, Siemens confirmed its expectations of moderate organic order growth. Full-year income from continuing operations is expected to approach the low end of the original expectation, 4.5 billion euros, before
impacts related to legal and regulatory matters and significant portfolio
effects which the company expects to burden income by up to 0.5 billion euros due mainly to the solar business.
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