Philips Announces Second Quarter and Semi-Annual Results 2012

Philips has released its second quarter and semi-annual results 2012. According to the company, its second-quarter comparable sales have reached to EUR 5.9 billion, increasing by 5%. Other results as following,

•Growth led by 7% growth at Healthcare and 6% growth at Lighting
• Sales in growth geographies up 11% on a comparable basis, now representing 35% of total revenue
• Reported EBITA of EUR 450 million, or 7.6% of sales
• Net income of EUR 167 million
• Overhead-reduction plan on track; cumulative savings now EUR 176 million
• Distribution agreement signed for Lifestyle Entertainment in North America with Funai

Lighting comparable sales increased by 6%, led by double-digit sales growth at Light Sources & Electronics, as well as high-single-digit sales growth at Automotive. LED-based sales grew by 37% year-on-year and now account for 20% of total Lighting sales. Reported EBITA margin for the quarter was 4.6%.

The company says they have completed 56% of our EUR 2 billion share buy-back program since the start of the program in July 2011.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<

Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.