Philips posts strong Q3, mainly driven by imaging sales

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While the net income for the overall Philips Group was EUR76 million ($99.19 million U.S.) more than the previous year’s third quarter, the healthcare sector also had strong earnings. Philips Healthcare posted earnings before interest, taxes and amortization in the 2012 third quarter of EUR330 million ($429.25 million U.S.), compared with EUR261 million ($339.5 million U.S.) in Q3 2011.

The sales for Philips Healthcare grew by EUR366 million ($478 million U.S.) to EUR2.443 billion ($3.19 billion U.S.) for the third quarter of 2012, compared with the 2011 third quarter. The company said its sales were mainly driven by imaging systems.

Specifically for Philips Healthcare, the currency-comparable equipment order intake grew 6 percent year-on-year. The company reported that double-digit grown was seen at patient care and clinical informatics, and low single-digit growth at imaging systems. “Equipment orders in Europe showed double-digit growth, while in North America equipment order intake showed a mid-single-digit decline,” Philips stated in its release. “Equipment orders in growth geographies grew by 9 percent.”

Also, comparable sales for Philips Healthcare were 7 percent higher year-on-year, driven by double-digit growth at imaging systems and high-single-digit growth at home healthcare solutions. Mid-single-digit growth was seen at customer services and patient care and clinical informatics.

Compared with the 2011 third quarter, the company said that the number of employees increased by 341 to 38,228, “largely driven by increased investments in sales and service channels.”

The healthcare sector expects that restructuring and acquisition-related charges in the fourth quarter will total approximately EUR105 million ($137.19 million U.S.).