Healthineers first quarter earnings lower on ramp-up costs
Reuters
Published Feb 03, 2020 06:23
Healthineers first quarter earnings lower on ramp-up costs
FRANKFURT (Reuters) - Siemens Healthineers' (DE:SHLG) operating income slipped 11% in the first quarter of its fiscal year, despite higher revenues, as it sold less profitable imaging machines and incurred ramp-up costs for its new Atellica blood-testing machines.
The German maker of diagnostic equipment said adjusted earnings before interest and tax declined to 484 million euros (£407.8 million) during the October-December period.
That was below an average analyst estimate of 568 million euros, according to a consensus posted on the company's website.
"Profitability was negatively impacted by a temporary dip in Imaging and the guided weak margin performance in Diagnostics," the group said in a statement on Monday.
Atellica ramp-up costs were inflated by the shipment of more than 600 analysers from July to September last year, it added.
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Written By: Reuters
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