Philips Q3 opg ahead of forecasts; to announce more cash returns to shareholders |
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Mon, 15 Oct 2007 06:21
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AMSTERDAM (Thomson Financial) - Royal Philips Electronics NV reported sales and operating profit ahead of market forecasts in the third quarter, and said that it will announce further steps in its programme to return cash to shareholders.Sales were 6.524 bln eur, up from 6.313 bln and higher than market expectations of 6.316 bln. Operating profit was 438 mln eur, up from 71 mln eur and well above the 343-349 mln eur expected.But net profit came in below expectations. The bottom-line figure was 331 mln eur, up from an adjusted 1 mln eur and missing forecasts of 362-392 mln eur.Philips said it sees 'potentially weaker' US markets, but said that it expects other markets, and especially the emerging ones, to compensate.By Kaj Leers, kaj.leers@thomson.comkel/jmsCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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