By Inti Landauro

PARIS--France's Schneider Electric SA (SU.FR), one of the world's biggest suppliers of power equipment and services, Thursday said swings in currencies, weak deamand from Asia and the impact of recent asset sales dragged third-quarter revenue lower.

The company said revenue fell 8% to 6.06 billion euros ($6.61 billion) in the three months to end-September from the same period a year ago. The revenue was below market forecasts. Analysts polled by FactSet had expected revenue of EUR6.18 billion.

Schneider Electric attributed the decline mainly to the EUR144 million impact of the depreciation in the Chinese yuan and the British pound and a EUR283 million revenue loss related to the sale of its Juno Lighting and Telvent Transportation units.

Beside the effects of currency and asset disposales, revenue from Asia fell 12% in the quarter.

Schneider Electric makes low-voltage and automated equipment for buildings, medium-voltage gear to utilities and grid operators and sells automation systems for manufacturers and provides energy management for buildings and factories.

Like many capital good manufacturers, Schneider Electric was hit hard last year by the economic slowdown in China, the effects of oil price slump on the oil service industry and weakness of other commodity-driven economies such as Brazil. As investors and analysts questioned Schneider Electric's dependence on emerging-market economies and China, management reacted by cutting costa and improving efficiency.

The company's chief executive, Jean-Pascal Tricoire, said the cost-cutting and efficiency chasing had brought a 13% rise in net profit in the first half of this year. Schneider Electric didn't release third-quarter profit figures or any guidance for 2016 net profit.

The company kept its target for flat full-year revenue, excluding a likely EUR800 million hit to sales from unfavorablerexchange rates and the revenue losses from assets it sold recently.

Mr.Tricoire unveiled Thursday a new target to save between EUR1.5 billion and EUR1.7 billion in the period 2015-2017, though the restructuring charges will cost the company EUR900 million over the period.

Schneider Electric shares were down 3.2% at EUR60.12.

-Write to Inti Landauro at inti.landauro@wsj.com

(END) Dow Jones Newswires

October 27, 2016 07:27 ET (11:27 GMT)