Philips Healthcare sales dip in Q3

Weakness in the U.S. market contributed to lower revenue on a currency-adjusted basis in the fiscal third quarter for Philips Healthcare of Andover, MA.

Sales totaled 1.821 billion euros ($2.69 billion U.S.) in the third quarter of 2009, compared with 1.806 billion euros ($2.66 billion U.S.) in the third quarter of 2008, representing growth of 1% before currency adjustments. When currency changes were taken into effect, however, sales fell 4%.

Income from operations fell to 110 million euros ($162.6 million U.S.) in the quarter, compared with 129 million euros ($190.8 million U.S.) in the same quarter a year ago.

In reporting the numbers, Philips said that the North American market continued to show weakness, particularly in the company's Imaging Systems sector, due to uncertainty regarding healthcare reform. This was partially offset by double-digit growth in emerging markets.

For the nine-month period of 2009, Philips Healthcare sales climbed to 5.434 billion euros ($8.03 billion U.S.), compared with 5.08 billion euros ($7.52 billion U.S.) in the same period of 2008. Income from operations slipped to 199 million euros ($294.5 million U.S.), compared with 342 million euros ($506.1 million U.S.) in the nine-month period of 2008.

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