HUTCHINSON, Kan. — The wind division of Siemens held its own as the company reported quarterly earnings this 
morning. Siemens says its net profit rose 27 percent in its 3rd quarter after earnings a year earlier were weighed down by restructuring costs, though the strong euro hurt its revenue and new order’s figures.
The Munich-based industrial conglomerate reported Thursday net earnings of €1.4 billion ($1.9 billion) for its fiscal third quarter, up from €1.1 billion last year. Revenue was down 4 percent at €17.92 billion. Orders dropped 3 percent to €19.41 billion.
Despite high development and production costs, Siemens wind division showed a 76 percent increase in profits to €38 million, compared to €21 million a year earlier. Orders increased sharply, mostly due to several large, offshore projects in Europe, including a €1.6 billion project in the Netherlands.