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TheStreet Open House

Siemens U.S. Sales Up 18% In 4th Quarter 2012

Siemens AG (NYSE: SI) today announced strong results for the fourth quarter of fiscal 2012 and achieved its outlook for the year. "A strong fourth quarter enabled us to fulfill our expectations for fiscal 2012 and achieve one of our best years ever. Even so, we didn’t fully succeed in significantly boosting our performance vis-à-vis our competitors, as we did in recent years. To get back to reaching our own goals, we've launched Siemens 2014, a company-wide program aimed at raising our Total Sectors profit margin to at least 12 percent. We know what we have to do – and we’re doing it," said Siemens CEO and President Peter Loescher.

In the U.S., on an adjusted basis, sales were up 18% to approximately $5.5 billion (€4.4 billion) and orders were down 2% to roughly $5.1 billion (€4.1 billion) over the last quarter. In fiscal 2012 sales rose 16% to approximately $21.6 billion (€16.7 billion) and orders were down 2% to approximately $20.0 billion (€15.4 billion) on an adjusted basis.

The Energy Sector of Siemens received a major order for the IPP Qurayyah combined-cycle power plant in Saudi Arabia. The billion dollar order, which will be fulfilled out of Siemens Charlotte manufacturing facilities, will supply enough electrical energy to meet about one-tenth of the country's current power demand. This year, Siemens won a multi-million dollar order for a high-efficiency power plant in Temple, Texas, to supply a natural-gas-fired combined-cycle power plant for the Panda Temple Power Project, which will be among the cleanest fossil-fueled plants in the U.S. Siemens also received a large onshore wind turbine order from MidAmerican Energy Company for a 407-megawatt wind project expansion. These turbines, once completed, will provide renewable energy for more than 120,000 average U.S. households.

Siemens Healthcare launched this year its comprehensive imaging solution for the visualization and quantification of amyloid plaques – a necessary pathological feature of Alzheimer’s disease – in the living brain. This imaging solution includes the new Biograph™ mCT positron emission tomography/computed tomography (PET•CT) scanner, syngo®.PET Amyloid Plaque software, which enables the physician to target regions of interest in the living brain, and the radiopharmaceutical production expertise of PETNET Solutions, a wholly-owned subsidiary of Siemens. This combination of scanner, software and radiopharmaceutical production provides U.S. physicians with valuable tools for the evaluation of Alzheimer’s disease and other causes of cognitive decline.

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