February 3, 2020 / 6:18 AM / 19 days ago

Healthineers Q1 earnings lower on ramp-up costs

FRANKFURT, Feb 3 (Reuters) - Siemens Healthineers’ 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 ($536 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 analyzers from July to September last year, it added.

$1 = 0.9014 euros Reporting by Ludwig Burger Editing by Riham Alkousaa

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