German industrial robots maker Kuka (KU2G) Wednesday reported higher profit for the first quarter, supported by growth in revenues. The company backed its full year goals.
Net result attributable to shareholders of the company increased to 14.5 million euros from 10.8 million euros in the prior year. Earnings per share rose to 0.43 euros from 0.32 euros.
Earnings Before Interest and Tax, or EBIT, rose to 28.4 million euros from 21.9 million euros. EBIT margin improved to 6.5 percent from 6 percent.
Sales revenues climbed to 436 million euros from 367.3 million euros in the prior year. Orders received fell nearly 20 percent to 482.7 million euros from 602.6 million euros.
In 2013, the company expects overall sales revenues to be slightly higher and reach about 1.8 billion euros. EBIT margin is expected to be around 6.5 percent.
Separately, Kuka said it received a blanket order from Siemens healthcare for medical robots to be delivered between 2013 and 2015. The order is valued in the lower double-digit million euro range.
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