WASHINGTON, July 26, 2012 /PRNewswire/ -- Siemens AG (NYSE: SI) today announced sluggish results for the third quarter of fiscal 2012 and gave a cautious outlook for the rest of the business year. "The deceleration of the world economy has increased in the past few months. We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds, especially in our industrial short-cycle businesses," said Siemens CEO and President Peter Loescher. "Therefore, our focus above all is on increasing our productivity and efficiency. Given the deteriorating environment, it is becoming more difficult to achieve our guidance for the fiscal year."
In the U.S., on an actual basis, sales were up 26% to approximately $5.8 billion (4.5 billion) and orders were down 17% to roughly $4.1 billion (3.2 billion) over the last quarter.
One of the highlights of the quarter was the new $73 million contract awarded to the Siemens sector Infrastructure & Cities to build 18 of its S70 light rail vehicles for TriMet in Portland, Ore. The vehicles will be manufactured from start to finish at Siemens' rail vehicle manufacturing plant in Sacramento, Calif., a facility powered almost entirely by two megawatts of solar energy. The first new rail cars are expected to be delivered in August 2014.
The Siemens Industry sector saw strong overall order and sales growth as U.S. manufacturing customers were increasingly making investments to support productivity and resource efficiency improvements in their production operations. In many cases, these projects not only include Siemens technology components, but also are driving strong growth in the technology-based services business. One particularly important energy efficiency project was the more than $10 million investment in drive systems and motors to replace existing equipment at the SSAB Americas' plate and steckel mill in Montpelier, Iowa.
Siemens Energy received an order for a total of 50 wind turbines with a combined capacity of 115 megawatts (MW) for the El Arrayan wind power plant in Chile. This wind project will be developed as a joint venture between Pattern Energy and AEI, two leading independent energy companies developing projects in Chile because of its great potential for sustainable energy development and strong investment climate. Installation of the project is scheduled to begin in spring 2013, with commissioning of the wind power plant planned for early 2014.
The healthcare sector of Siemens further expanded its leadership in the computed tomography (CT) market by launching three systems. The SOMATOM Definition Flash dual-source CT scanner now features the new Stellar Detector - the first fully integrated detector that virtually eliminates electronic noise. Also equipped with the Stellar Detector, the SOMATOM Definition Edge single-source CT scanner is designed to maximize clinical outcomes, especially for emergency departments. Finally, the SOMATOM Perspective is an advanced 128-slice CT scanner engineered to drive efficiency and reduce costs. All Siemens CT scanners are equipped with the latest proprietary technology to reduce radiation dose.
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies. Around 40 percent of its total revenue stems from green products and solutions. In fiscal 2011, which ended on September 30, 2011, revenue from continuing operations totaled EUR 73.5 billion and income from continuing operations EUR 7.0 billion. At the end of September 2011, Siemens had around 360,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.
SOURCE Siemens AG