Philips Healthcare posts slight Q4 downturn due to DRA

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Philips Electronics reported a slight downturn in revenues for its fiscal 2007 fourth quarter for the Healthcare division, which the company said struggled with a weaker U.S. market for imaging systems.

For the quarter, the company booked a net operating capital of $5.79 million (€4.01 million), compared to $4 million (€1.99 million) in the same quarter last year.

Philips’ Healthcare saw sales for the quarter decrease slightly to $2.84 million (€1.95 million) compared to $2.9 million (€1.99 million) in the same quarter last year.

According to Philips, comparable sales grew 3 percent year-on-year, with “strong growth at patient monitoring, cardiac care and customer services, partially offset by flat sales at Imaging Systems,” which the company said was impacted by the “continued softening of the market, including the effect of the Deficit Reduction Act in the United States and the weakening Japanese market.”