Siemens U.S. Order Intake Up 6% and Sales Up 2% in 1st Quarter 2012

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Jan 24, 2012, 08:00 ET

WASHINGTON, Jan. 24, 2012 /PRNewswire/ -- Siemens AG (NYSE: SI) today announced a rather sluggish start into its FY2012.

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"The uncertainties of the ongoing debt crisis have left their mark on the real economy. Our revenue increased again, while isolated project delays burdened profits. Although a recovery is expected in the second half of the year, we must work hard to achieve our goals," said Siemens AG CEO Peter Loescher.

Orders in the first quarter declined 4%, to approximately $25 billion on an adjusted basis and the order backlog reached approximately $130 billion. Revenue rose 3% on an adjusted basis to approximately $23 billion, with increases in all regions.

In the U.S., on an adjusted basis, sales were up 2% to approximately $4.8 billion and orders grew 6% to roughly $6 billion over the last quarter.

"We had a good start in our new fiscal year. America was the only region where we saw sales and order growth in the first quarter," said Eric Spiegel, president and CEO of Siemens Corporation.

In the U.S. Siemens was mainly focusing on the expansion of its capacities in the first quarter, which ended on December 30th, 2011. On November 16th, Siemens opened its newly expanded gas turbine factory in Charlotte, North Carolina. The company has invested more than $350 million in the 450,000-square-foot plant, creating around 700 new jobs so far.

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.

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse in electronics and electrical engineering, operating in the industry, energy, healthcare, and infrastructure and cities sectors. For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions. With 405,000 employees in 190 countries, Siemens reported worldwide revenue of $102.9 billion in fiscal 2010. Siemens in the USA reported revenue of $19.9 billion and employs over 60,000 people throughout all 50 states and Puerto Rico. For more information on Siemens in the United States, visit www.usa.siemens.com.

SOURCE Siemens