While Royal Philips Electronics increased its net income EUR348 million ($482.71 million U.S.) in the 2010 third quarter over the previous-year quarter, Philips Healthcare also reported a 4 percent jump in sales during the same quarter-over-quarter comparative period.
The North Andover, Mass.-based Philips Healthcare reported that its sales grew from EUR1.82 billion ($2.52 billion U.S.) in the third quarter of 2009 to EUR2.07 billion ($2.87 billion U.S.) in the third quarter of 2010.
The healthcare segment also said its currency-comparable equipment order intake increased by 7 percent year-over-year, with notable improvements in imaging system orders. Specifically, equipment orders in the North American markets grew by 11 percent, while order intake in markets outside North America rose 2 percent, including 20 percent year-on-year growth of equipment orders in emerging markets. Also, markets outside North America grew by 7 percent.
Philips Healthcare noted its home healthcare solutions unit, patient care and clinical informatics units also contributed to the 4 percent increase.
Likewise, the earnings before interest, tax and amortization (EBITA) increased by EUR107 million ($147.8 million U.S.) year-over-year to EUR282 million ($389.57 million U.S.), according to the healthcare segment.
"Healthcare ... delivered a good quarter in terms of profitability as well as growth," said Gerard Kleisterlee, president and CEO of Royal Philips Electronics.