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Philips Healthcare drives Royal Philips Electronics' swing to Q2 black

Mon, 07/23/2012 - 4:51pm
Mass Device

Philips Healthcare's 2nd-quarter surge helps fuel a swing back to profitability for its parent company, Royal Philips Electronics.

Philips Healthcare

Philips Healthcare (NYSE:PHG) helped its parent company, Royal Philips Electronics, back to 2nd-quarter profitability with comparable sales growth of 7%.

The Andover, Mass.-based healthcare conglomerate, the world's 7th-largest medical device company, reported earnings before interest, taxes and amortization of €333 million ($404.1 million) on sales of €2.41 billion ($2.93 billion) for the 3 months ended June 30.

That amounts to top-line growth of 16.0%; adjusted for exchange rates, Philips Healthcare's sales were up 7%, according to a regulatory filing.

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