From Zacks Investment Research:
Siemens AG (SI - Analyst Report) reported earnings per share from continuing operations of €1.63 ($2.07) for the third quarter of 2010 on revenues of €19.17 billion ($24.35 billion). The corresponding Zacks Consensus Estimates for the quarter were $1.56 and $23.14 billion, respectively.Orders received in the quarter were €20.8 billion ($26.51 billion) and were up 22% from the prior-year quarter. The cumulative backlog for the quarter stood at €89 billion ($113 billion). The combined book-to-bill ratio for the sectors was 1.10.Industry Sector improved its third quarter profit, revenue and orders compared with the prior-year period. Industry Automation was the sector’s highest profit contributor, partly due to economies of scale and significantly higher revenues. The division improved its business mix with more higher-margin products. Third-quarter profit at Drive Technologies increased 28% year over year. Robust demand for OSRAM’s LEDs and automotive solutions resulted in a 27% rise in third-quarter revenues at the division. Revenues at Industry Solutions declined 6% year over year while Mobility increased its profit on flat revenues.Energy Sector generated a strong profit of €925 million ($1.2 billion) in the third quarter. Fossil Power Generation recorded a profit of €379 million ($481 million), an increase of 9% compared with the year-ago quarter. Renewable Energy, Oil & Gas, Power Transmission and Power Distribution reported increased profits in the most recent quarter....MORE
If SI is downgraded its American doppelgänger (GE) should be too.
Dear General Electric, Siemens: American Superconductor to Begin Licensing 10 MW Wind Turbine this Year (AMSC; GE; SI)