Philips Q3 health revenues edge up as profit falls

2017 03 17 11 49 14 596 Philips Rsna 2016 Square

The medical imaging and therapy business of Royal Philips turned in third-quarter revenues that were up 2% after currency adjustments, while the segment's earnings fell due to one-time charges.

For the period (end-September 30), the company's Diagnosis and Treatment business, which includes revenues from Philips Healthcare, turned in revenues of 1.638 billion euros ($1.92 billion), essentially flat compared with last year's figure of 1.635 billion euros ($1.92 billion) but up 2% after taking into account currency fluctuations. The division posted earnings before interest, taxes, and amortization (EBITA) of 105 million euros ($123 million), down from EBITA of 178 million euros ($209 million) in the corresponding quarter of 2016.

The company reported that after currency adjustments, it achieved sales growth in the midsingle digits in its image-guided therapy business and in the low single digits in its ultrasound and diagnostic imaging divisions. On a geographic basis, the business saw double-digit growth in China, Latin America, and India, while North America showed a single-digit decline, Western Europe experienced a double-digit decline, and other mature geographies saw double-digit growth.

EBITA fell due to restructuring and acquisition-related charges of 63 million euros ($73 million), including charges related to its acquisition of Spectranetics.

Page 1 of 1234
Next Page