Philips swings to net profit but cautious about 2014

Philips (PHG) swung to a net profit of €412M in Q4 from a loss of €423M a year earlier, when its results were hurt by various one-time charges. The latest Q4 figure missed forecasts of €455M.

Adjusted EBITA climbed 20% to €915M ($1.3B), topping consensus of €874M.

Sales edged up 1% to €6.8B, below expectations of €6.84B.

Philips warned that it remains cautious for 2014, due to macroeconomic uncertainties, currency fluctuations and weak Q4 orders.

Healthcare bookings -1%, due to uncertainty over U.S. healthcare reforms and European austerity.

Demand in China again surpassed management targets, helped by sales of air purifiers, rice cookers and shavers.

Proposes dividend of €0.80 ($1.10) per share. (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs