Siemens Q1 Net Profit Falls 25%

reported a 25% drop in its first-quarter net profit. Siemens posted a quarterly net profit of EUR1.08 billion, versus a year-ago profit of EUR1.43 billion. Its revenue gained 5% to EUR17.42 billion. New orders dropped 11% to EUR18.01 billion. Siemens's power and gas business profit margin narrowed to 11.3% from 18.2%, while profit margin in the health care business shrank to 14.5% from 17.6%. Siemens shares rose 2.09% to close at $112.50 yesterday.