WSJ: Philips' manufacturing issues will hit Q4 earnings

Royal Philips told investors this week that delays in restarting production at its Philips Healthcare division's CT manufacturing facility in Cleveland will result in lower than expected fourth-quarter earnings, according to a report in the Wall Street Journal.

Philips had suspended production at the facility last year after the U.S. Food and Drug Administration (FDA) questioned manufacturing controls. Issues with restarting production will also hurt 2014 earnings by an expected 225 million euros ($266 million U.S.), up from a previous estimate of 180 million euros ($216 million), according to the Wall Street Journal.

In good news, Philips has again begun shipping its Brilliance iCT product from the Cleveland facility after its quality-management system received external certification, according to the article.

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