Philips 1Q Net Income Rose 31%

Date : 04/29/2019 @ 5:52AM
Source : Dow Jones News
Stock : Koninklijke Philips NV (PHIA)
Quote : 43.38  0.0 (0.00%) @ 12:00AM
Koninklijke Philips NV share price Chart

Philips 1Q Net Income Rose 31%

Koninklijke Philips NV (EU:PHIA)
Historical Stock Chart

1 Year : From Jan 2019 to Jan 2020

Click Here for more Koninklijke Philips NV Charts.
   By Oliver Griffin 

Koninklijke Philips NV (PHIA.AE) said Monday that its first-quarter net income rose 31% as certain cost-cutting programs delivered savings.

The Dutch technology company said net income for the quarter ended March 31 rose to 162 million euros ($180.5 million) from EUR124 million in the year-earlier period.

Income from continuing operations--an important metric for Philips--rose to EUR171 million from EUR94 million in the first quarter of 2018.

The company said first-quarter procurement savings amounted to EUR38 million, while other programs delivered savings of EUR75 million.

Sales for the quarter rose 5.2% to EUR4.2 billion, Philips said. Comparable sales rose 2%.

Philips reported that the margin on its adjusted earnings before interest, taxes and amortization rose to 8.8% of sales, compared with 8.7% of sales in the year-earlier period. Philips said it backed its target of 4%-6% comparable sales growth and an average annual 100-basis-points improvement in adjusted Ebita margin for 2017 to 2020.


Write to Oliver Griffin at; @OliGGriffin


(END) Dow Jones Newswires

April 29, 2019 01:37 ET (05:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200129 06:19:29