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.
