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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Koninklijke Philips NV | NYSE:PHG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.25 | 0.94% | 26.81 | 27.05 | 26.7125 | 27.03 | 1,661,672 | 01:00:00 |
By Carlo Martuscelli
Koninklijke Philips N.V. (PHIA.AE) said Monday that first-quarter net income from continuing operations decreased 27% after booking restructuring, acquisition and bond-redemption charges and backed its outlook for 2017-20.
The Dutch technology company said that net income from continuing operations for the quarter ended March 31 fell to 94 million euros ($115 million), compared with EUR128 million the previous year, on sales that fell to EUR3.9 billion euros, from EUR5.7 billion. Comparable sales increased by 5%, it said.
The company said that its adjusted Ebita margin improved by 130 basis points to 8.7% of sales, compared with 7.4% of sales in the first quarter of 2017.
Philips said it backed its target for the 2017-20 of 4%-6% comparable sales growth and an average annual 100 basis points improvement in adjusted Ebita margin.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
April 23, 2018 01:37 ET (05:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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