Philips sees steady growth in Q1 numbers

2019 02 05 17 15 4274 Philips Rsna 2018 400

The parent company of Philips Healthcare reported steady growth in sales in its medical imaging division for its first quarter (end-March 31), with revenues after currency adjustment growing 3%.

For the period, Philips' Diagnosis & Treatment division reported sales of 1.722 billion euros ($1.92 billion U.S.), up 5% compared with sales of 1.635 billion euros ($1.83 billion U.S.) before currency adjustment in the same period of 2018. Sales grew 3% after adjusting for currency effects.

On the profit side, the division posted income from operations of 51 million euros ($57 million U.S.), up from 22 million euros ($24.6 million U.S.) in the first quarter of 2018. The division's profit as a percent of sales grew to 3%, up from 1.3% in the corresponding quarter of 2018.

The company said that healthcare growth was driven by a double-digit increase in its image-guided therapy segment, while its diagnostic imaging unit saw a sales decline in the mid-single digits. On a geographic basis, growth markets like China and Latin America grew at a double-digit rate. Sales were flat in North America, while Western Europe saw a decline in the high single digits.

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