Siemens AGOTCPK - Current
Nov. 7, 2013, 2:33 AM
- Siemens' (SI) FQ4 income from continuing operations fell 13% to €1.08B but topped forecasts of €997M.
- Net profit fell 10.1% to €1.07B. FY EPS +7.2% to €5.08.
- FQ4 revenue slipped 1.3% to €21.2B.
- Operating profit from Siemens' four main businesses - Industry, Energy, Healthcare and Infrastructure & Cities - slumped 17% to €1.61B.
- Excluding currency effects, incoming orders rose 3%.
- Took €688M charge related to its €6B savings program.
- Siemens expects its FY 2014 EPS to rise 15%, although analysts forecast growth of 31%.
- Intends to buy back up to €4B of stock over the next two years.
- Declares dividend of €3 a share for last FY.
- Siemens' results come after it said yesterday that it has agreed to sell part of its water-technologies division to private-equity firm AEA Investors for €640M. (PR)