| Siemens' EAS Unit Narrows Q4 Loss |
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| Written by Mike Buetow | |||
| Thursday, 03 December 2009 11:06 | |||
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MUNICH – Siemens reported revenues dipped slightly in the fourth quarter, falling less than 1% to €76.7 billion.
The net loss for the period was €1.06 billion. The company’s electronics assembly systems (EAS) business recorded a loss of €29 million in the fourth quarter, up from a loss of €48 million in the prior-year period. Both periods under review include severance charges. Siemens said divestment of the EAS business is expected to result in a material loss. The EAS unit’s revenue is listed on the the company’s balance sheet under Other Operations, which reported sales of €107 million in the quarter. In its statement, Siemens said Other Operations (which will now be called Centrally Managed Portfolio Activities) consists of units intended for divestment or closure
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