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Siemens net profit rises 20 percent, orders up

By David McHugh
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FRANKFURT, Germany (AP) — Industrial equipment maker Siemens AG said quarterly net profit rose 20 percent as the company moved past one-time charges for delays delivering high-speed trains.

Net profit rose to 1.46 billion euros ($2 billion) in the fourth quarter of 2013, the company’s fiscal first. That was up from 1.21 billion euros a year ago.

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