BERLIN (AP) -- Siemens AG says net profit rose 43 percent in the most recent quarter after it spun off its money-losing light bulb business.
Other measures of profit sagged, however, as the industrial conglomerate took charges for a restructuring program aimed at restoring its profit levels.
Net profit rose to 1.1 billion euros ($1.46 billion) for the April-June period from 770 million euros a year earlier. Earnings benefited from spinning off light-bulb business Osram, which cost the company 354 million euros in the year earlier quarter.
The profit margin fell to 6.5 percent 9.2 percent a year earlier.
Failure to meet profit targets disappointed shareholders and led to the resignation Wednesday of CEO Peter Loescher. He was replaced by CFO Joe Kaeser.