YOU ARE AT:Archived ArticlesSiemens 3Q `unsatisfactory'

Siemens 3Q `unsatisfactory’

BERLIN-Siemens AG posted a third-quarter net profit of $1.4 billion, enhanced by its transfer of stake from its semiconductor company Infineon to its pension fund.

Excluding exceptional items or money spent on Infineon, the company posted a $430 million loss.

“Our third-quarter results are unsatisfactory,” said Heinrich von Pierer, Siemens chief executive. “Over the coming weeks, we will define further measures to improve our results, particularly at information and communications networks.”

ABOUT AUTHOR