Philips Q3 2012 Results: Net Profit Rose To €169 Million With €54 Million Loss On Televisions

Posted on Oct 22 2012 - 1:02pm by Editorial Staff

Philips today announced its third quarter 2012 results with doubling its income in the quarter following the sales of its TV division. The company reports the net profit rose to €169 million ($220 million) from €74 million in the same period a year ago, while the company reports a €54 million loss on televisions. The sales rose 3.4 percent to €6.13 billion.

Despite the turnaround, CEO Frans van Houten remains said that “strong economic headwinds on a global scale, which affect growth going forward.” Philips has previously announced it plans to take around €300 million in restructuring charges in the fourth quarter although the company shares rose 2.7 percent to €19.52 in early trading Monday.

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