Siemens posts a net loss of 1.06 billion euro in Q4

FRANKFURT/NEW DELHI: German engineering conglomerate Siemens today said its net loss was at 1.06 billion euros (about $1.5 billion) in the fourth quarter of this year.

Siemens said, it posted a net loss 1.06 billion euros in the fourth quarter of fiscal 2008-09, primarily due to a non-cash loss of 1.96 billion euros from the group''s Nokia Siemens Network unit.

In the year-ago period, the company had a net loss of 2.42 billion euros, Siemens said in a statement. Nokia Siemens, is a 50-50 joint venture of Finnish telecom equipment maker Nokia and Siemens AG. The company said revenue at 19.71 billion euros was down 9 per cent in the fourth quarter this year compared to the prior-year quarter.

For fiscal 2009, total profit rose to 7.46 billion euros, and income from continuing operations increased to 2.45 billion euros.