Siemens U.S. sales up, orders swell in FY11

Siemens AG Thursday announced it achieved record operating results in fiscal year 2011, and expects “moderate organic revenue growth, with orders again exceeding revenues for a book-to-bill ratio of well above 1,” in FY12.

“We are well-positioned for moderate revenue growth next year and expect to surpass the 100 billion euro [$137 billion] revenue threshold in the medium term," said Siemens AG CEO Peter Loescher.

FY11 global orders for Siemens AG climbed 16%, to almost $120 billion on an actual basis. Revenue rose 7% to about $100 billion, and income was almost $10 billion, the company said. Siemens’ fiscal year ended Sept. 30.

U.S. sales were up 12% to $20 billion and orders grew 8% to almost $22 billion, and Siemens officials made it clear the U.S. offers good future sales potential. “The U.S. is, by far, the single largest market for Siemens. We delivered strong growth over the prior year and can be proud of what we achieved financially. We won some very prestigious orders this year,” said Eric Spiegel, president and CEO of Siemens Corp.

Siemens said its Drive Technologies division will be delivering the components for the new electric locomotives the company is building for Amtrak. Light rail transit orders from the Mobility division included a $153 million order for 41 light rail vehicles for the Minneapolis and an $83 million order for 19 vehicles in Houston. Siemens also landed an order from Atlanta for four S70 streetcars.