Philips Healthcare books impressive Q1
 |
“While our [first quarter] results of course compare very favorably with the recession-impacted 2009 [first quarter], they are in an absolute sense at a level that we have not seen before in a first quarter,” said Gerard Kleisterlee, president and CEO of Royal Philips Electronics.
The company said the order increase in its healthcare unit was “largely driven by imaging systems and clinical care systems.” Philips Healthcare saw a double-digit growth in consumer services and high single-digit growth in clinical care systems. Regionally, order intake showed 30 percent growth in markets outside North America (both emerging and mature markets), while in the U.S., equipment orders were 7 percent higher comparably—the first U.S. increase since the 2008 third quarter.
Philips Healthcare booked earnings before the deduction of interest, tax and amortization (EBITA) expenses of €166 million ($225.6 million U.S.) in the 2010 first quarter, compared with €68 million ($91.6 million U.S.) in the previous-year quarter.
The healthcare unit booked a sales increase as well—€1.82 billion ($2.45 billion U.S.) in the 2010 first quarter, compared with €1.74 billion ($2.34 billion U.S.).
The restructuring and acquisition-related charges were more costly in the 2010 first quarter for Philips Healthcare than the prior-year quarter’s charges—€29 million ($39 million U.S.) versus €15 million ($20.2 million U.S.).
Royal Philips Electronics noted that the number of employees increased by 262. Compared to the first quarter of 2009, the number of employees was stable, as decreases in healthcare, lighting and group management and services were “more than offset” by an increase at consumer lifestyle, the company said.