NEW YORK (360Dx) – Siemens Healthineers today reported a revenue decline of less than one percent year over year for its fiscal third quarter as currency translation negatively impacted growth by 5 percentage points.
Siemens Healthineers was spun off by Siemens into its own publicly traded company in March.
For the three months ended June 30, 2018, the firm posted revenues of €3.30 billion ($3.87 billion) from €3.31 in the year-ago period. Diagnostics revenues declined 4 percent year over year to €1.01 billion from €1.05 billion as revenues grew in Europe, the Middle East and Africa, as well as in Asia and Australia, Siemens Healthineers said, noting in particular growth in China. It added that adjusted profit margin for the recently completed quarter for the segment — down to 11 percent from almost 14 percent a year ago — was impacted by a large, initially negative automation contract and Atellica transition costs.
During the third quarter, there were more than 560 shipments of the Atellica Solution, comprising immunoassay and chemistry analyzers. Meanwhile, the firm's two most recent acquisitions saw positive contribution to revenue growth — Epocal revenues were up in the double-digits year over year, while Fast Track Diagnostics had high single-digit growth, Siemens Healthineers said.
The firm's Imaging segment's revenues grew 3 percent year over year to €1.98 billion from €1.92, while Advanced Therapies' revenues shrank 3 percent to €353 million from €365 million.
Siemens Healthineers posted a net income attributable to its shareholders of €285 million, or €.29 per share, for Q3 2018, compared to a net income of €320 million or €.32 per share, a year ago.
Its R&D costs grew 7 percent year over year to €327 million from €307 million. Its SG&A costs was trimmed 4 percent to €510 million from €533 million.
The company finished Q3 2018 with €228 million in cash and cash equivalents.
For full-year fiscal 2018, it reaffirmed revenue growth in the range of 3 percent to 4 percent.