403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Philips reports profit, sales drop in Q4
(MENAFN) Philips reported a decline in profits and sales in the October-December period as well as the full year of 2014 on weak currencies and falling demand in emerging markets like Russia and China, Xinhua reported.
Earnings before interest, taxes and amortization (EBITA) stood at USD296 million in the fourth quarter, compared to USD890.9 million quarter-on-quarter, impacted by restructuring costs and other items.
The Dutch electronics giant said its net income dropped to USD151.3 million in the final quarter of last year compared to USD465.2 million registered in the same quarter of 2013.
"We have been taking clear actions to drive stronger operational performance across our businesses and expect sales growth and EBITA margin improvements in 2015 and beyond," CEO said.
Earnings before interest, taxes and amortization (EBITA) stood at USD296 million in the fourth quarter, compared to USD890.9 million quarter-on-quarter, impacted by restructuring costs and other items.
The Dutch electronics giant said its net income dropped to USD151.3 million in the final quarter of last year compared to USD465.2 million registered in the same quarter of 2013.
"We have been taking clear actions to drive stronger operational performance across our businesses and expect sales growth and EBITA margin improvements in 2015 and beyond," CEO said.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment