Ultrasound drives Q3 growth in Philips imaging division

By AuntMinnie.com staff writers

October 28, 2019 -- Royal Philips, the parent company of Philips Healthcare, reported that double-digit growth in sales of ultrasound equipment drove its Diagnosis & Treatment division to 9% growth in revenue for the third quarter (end-30 September) after adjustment for currency effects.

Overall, Philips recorded 4.7 billion euros ($5.2 billion U.S.) in total sales, with comparable sales growth reaching 6%, up from 4% in the same quarter last year. Sales growth in the Diagnosis & Treatment business led the way at 9%, including double-digit growth in ultrasound and high single-digit growth in diagnostic imaging and image-guided therapy.

However, Philips reported flat comparable order intake (0%), compared with 11% in 2018. Net income fell to 208 million euros ($230.9 million), down from 292 million euros ($324.2 million) in the same quarter last year. The adjusted earnings before interest, taxes, and amortization (EBITA) margins also declined to 12.4%, down from 13.2% last year. The mixed numbers are in part due to the effects of headwinds from tariffs, Philips said.

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