German industrial conglomerate Siemens 3Q net profit down 7 percent to euro1.3 billion

Siemens 3Q net profit euro1.3 billion, down 7 percent

FRANKFURT — German industrial conglomerate Siemens AG said Thursday its net profit for its fiscal third quarter fell 7 percent as the global recession curbed demand for its products which range from light bulbs to high-speed trains.

The Munich-based company said net profit in the April-June period fell to euro1.3 billion ($1.8 billion) from euro1.4 billion in the year-ago quarter.

Siemens said revenues for the quarter fell 4 percent to euro18.3 billion from euro19.2 billion in the year-ago period.

The company’s fiscal year begins in October.

The company said it confirmed its full-year targets, even in the “current challenging global economic environment.”