Siemens: Orders, Revenue Grew In Latest Quarter

Industrial conglomerate Siemens AG says it expects year-on-year gains in new orders and revenue in the quarter ending this week, helped by strong demand from emerging economies.

BERLIN (AP) -- Industrial conglomerate Siemens AG says it expects year-on-year gains in new orders and revenue in the quarter ending this week, helped by strong demand from emerging economies.

Siemens said Tuesday orders and revenue for the quarter, the company's fiscal third, at its sectors -- industry, energy and health care -- "will probably exceed" 2009 levels of euro16.2 billion and euro17.4 billion respectively.

It said that would be the first time both orders and revenue rose since the fiscal fourth quarter of 2008. The company added that its projections "reflect substantial currency translation effects" from the dollar's strength against the euro.

Siemens said factors in the improvement include "a recovery in ... short-cycle businesses and strong demand in the emerging countries."

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