Monday, September 15, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft To Hold Next-generation Windows Event
Apple Lets You Remove U2's Gift Album From iTunes
Phones 4u Files For Administration
New DisplayPort 1.3 To DRive 5K Displays
Microsoft to Buy Minecraft maker Mojang
Pre-orders for New iPhones Top Four Million in First 24 Hours
Panasonic Reveals The Lumix DMC-LX100, Lumix DMC-GM5 Cameras And the DMC-CM1 Smartphone
Canon EOS 7D Mark II, PowerShot G7 X, PowerShot SX60 and PowerShot N2 Cameras Unveiled At Photokina
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > Optical Storage > Philips...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, April 15, 2003
Philips results in line despite sales drop


Philips Electronics NV on Tuesday reported better than expected first-quarter profit at most of its operations, boosting its shares despite sales that were sharply below forecasts.

Some negative items such as pension provisions brought operating profit and the net result to levels almost exactly in line with forecasts, but investors chose to focus on the improvements in the sprawling conglomerate's core operations.

"Revenues were disappointing but operating profit margins were surprisingly strong," said analyst Marc Kennis at bank Van Lanschot.

Shares of Europe's largest consumer electronics maker, down 10 percent this year in line with semiconductor stocks, were 6.1 percent higher at 17.12 euros at 1030 GMT, outperforming the Dow Jones European technology index, which rose three percent.

The Dutch company did not provide a specific overall forecast, warning that a weaker dollar could continue to hurt sales and, to a lesser extent, profit. The maker of televisions, light bulbs, chips and shavers said it expected no short-term improvement in the global economy.

Despite the massive hit to its top line, Philips managed to squeeze an operating profit of 32 million euros, almost exactly in line with forecasts of about 34 million. In the same period a year earlier, its operating profit was 73 million.

Financial charges and losses at unconsolidated companies pulled the net result to a 69 million-euro loss, versus a consensus forecast of a 77 million euro-loss.


Previous
Next
SCEI gives PlayStation 2 the first major update        All News        SCEI gives PlayStation 2 the first major update
SCEI gives PlayStation 2 the first major update     Optical Storage News      SCEI gives PlayStation 2 the first major update

Get RSS feed Easy Print E-Mail this Message

Related News
Philips Expands Its Series Of Ultra HD TVs Powered by Android
New Philips Hue Beyond Combines Functionality And Ambient Lighting for Home
Philips to Create New Lumileds and Automotive Lighting Businesses Company
Philips and Salesforce.com To Deliver Cloud-based Healthcare Information Technology
EU To Fine Philips, Infineon And Samsung
Philips to Sell WOOX Innovations to Gibson
Philips Announces Its 2014 TV Lineup
MWC: Philips and Ericsson Unite On Smart Street Lighting
Philips Lighting System Guides You Through The Supermarket
Philips to transfer Remaining Stake in TV Joint Venture to TPV
Philips At CES 2014
Philips Celebrates 100 Years of Research

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .