BERLIN, Aug. 6 (Xinhua) -- Net income of Siemens dropped by 53 percent to 535 million euros (634 million U.S. dollars) in the third quarter (Q3) of its current fiscal year, the German tech giant announced on Thursday.
Revenues of Siemens between April and June were down five percent year-on-year to 13.5 billion euros, according to the company.
Although both revenues and net income were below prior-year levels, Siemens managed to "exceeded market expectations and outpaced competitors," the company noted.
"Despite the global crisis, which remains very severe, we are maintaining our course successfully and delivered a strong operating performance in Q3," said Joe Kaeser, president and chief executive officer (CEO) of Siemens AG.
For Siemens' digital industries' business, the decline in orders was "cushioned above all by China's economic recovery and major contract wins in the software business."
Siemens noted that a weaker demand from the automotive and mechanical engineering industries was particularly noticeable.
In contrast, orders and revenues at Siemens' mobility business "developed positively." The "positive momentum" was supported in particular by an order of over 30 high-speed trains from the German railway operator Deutsche Bahn (DB) for 1.1 billion euros. Enditem
