MUNICH (AFX) - Siemens AG chief financial officer Joe Kaeser told analysts during a conference call that the industrial conglomerate could see up to about 200 mln eur in fourth quarter restructuring charges at its loss-making Business Services (SBS) computer consulting unit.
Siemens earlier today reported SBS narrowed its third quarter loss to 99 mln eur from a year-earlier 109 mln eur loss.
Sales declined to 1.081 bln eur from 1.331 bln.
The unit had 35 mln eur of third quarter severance charges as well as adverse effects related to the divestiture of one of its major consulting businesses.
Kaeser also said the Communications (COM) unit will book restructuring charges in the fourth quarter. He did not give a specific figure.
In its earnings release, Siemens wrote: 'Com expects high severance charges in the fourth quarter,' without any specific details.
COM achieved a 3 mln eur third quarter operating profit, compared to a year-earlier loss of 81 mln.
Sales rose to 3.258 bln eur from 3.099 bln. alfred.kueppers@afxnews.com amk/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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