MUNICH – Siemens, the German electronics and electrical engineering powerhouse, recorded high results in the third quarter of the 2010 fiscal year as orders and revenues year-over-year increased for the first time in over a year, the company announced on Thursday.

Siemens’ orders were of nearly €21 billion ($27.4 billion), a 22 percent increase compared to the previous year quarter. Revenue rose slightly to just over €19 billion ($24.8 billion). Both benefited from currency translation effects. Total Sectors profit increased 40 percent year-over-year, for a record-high of €2.3 billion ($3 billion).

“Siemens gained further momentum in the third quarter. Such order growth last occurred in 2008. Strong demand took our order backlog to a record level. At the same time, Sectors profit reached its highest point ever, and will clearly exceed the level of the prior year,” said Siemens President and CEO Peter Löscher.

Order intake increased in all three sectors and reporting regions, headlined by a 33 percent rise in industry. Energy divisions reported a growth of 18 percent. Orders at Healthcare climbed 18 percent while Industry recorded a leading 33 percent growth. The highest order level at Siemens was posted by the Renewable Energy Division which orders were worth nearly €2.3 billion ($3 billion).

On the other hand, revenue reported a four percent increase to €19.2 billion ($25.1 billion). The Industry sector posted a strong revenue growth while Energy revenue remained stable. The overall sector rose seven percent compared to last year and Healthcare revenue grew by ten percent.

Total sectors profit reported over €2.3 billion ($3 billion), a new high. All three sectors posted profit increases in comparison with the 2009 period as the Energy sector continued to be the top earnings contributor. Net income grew nine percent to €1.4 billion ($1.8 billion).

Siemens is expecting a slight decline in organic revenue in the current fiscal year due to the stabilizing effect of the strong order backlog. They also expect that the total sectors profit for the full year to be above last year’s €7.466 billion ($9.7 billion).