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Siemens Healthineers' Fiscal Q2 Diagnostics Revenues Rise 5 Percent

NEW YORK (360Dx) – Siemens Healthineers said today that its fiscal year 2019 second quarter revenues were up 9 percent year over year.

For the three months ended March 31, the firm reported total Q2 revenues of €3.51 billion ($3.93 billion) compared to €3.23 billion in the prior-year quarter.

The Erlangen, Germany-based company reported Diagnostics revenues of €1.02 million, up 5 percent from €970 million in Q2 2018.

"The measures taken to ensure a successful market launch of our laboratory diagnostics platform Atellica Solution have shown an early impact in the second quarter," Bernd Montag, the firm's CEO, said in a statement.

The firm's US Food and Drug Administration-cleared Atellica Solution for mid- and high-volume labs consists of flexible, scalable, and automation-ready immunoassay and clinical chemistry analyzers.

In its diagnostics business, the firm saw modest comparable revenue growth driven by sales in Asia, Australia, Europe, the Middle East, and Africa. Its Q2 adjusted profit margin in diagnostics improved quarter-over-quarter but was impacted by negative currency effects year-over-year and continued Atellica Solution ramp-up costs, the firm said.

Siemens Healthineers shipped 780 Atellica Solution analyzers through the end of its fiscal second quarter. For full fiscal 2019, it anticipates shipping between 2,200 and 2,500 analyzers.

In other business segments, the firm's Imaging revenues were €2.14 billion, up 10 percent from €1.95 billion in the prior-year quarter, and its Advanced Therapies revenues were €391 million, up 11 percent year over year from €352 million.

Siemen's Healthineers' net income for the quarter was €381 million, or €.38 per share, compared to €308 million, or €.30 per share, in Q2 2018.

Its R&D expenses were €322 million, up 4 percent year over year from €309 million, and its SG&A expenses were €536 million, up 2 percent from €527 million in the prior-year quarter.

The firm confirmed its guidance for FY 2019 and continues to expect comparable revenue growth to be in the range of 4 percent to 5 percent. It anticipates earnings per share to be 20 percent to 30 percent above the level of FY 2018.