Philips Healthcare posts 4% sales increase for Q2

While Royal Philips Electronics reported a net income of €217 million ($281 million U.S.) higher than the second quarter of 2009, its Philips Healthcare unit also experienced a 4 percent sales increase in the 2010 second quarter compared with year-over-year quarter.

Healthcare sales improved 4 percent on a comparable basis (€2.68 billion [$3.47 billion U.S.] vs. €1.87 billion [$2.42 billion U.S.]), which the company attributed to “solid growth” at patient care and clinical informatics and at customer services. Philips Healthcare said comparable sales in North America were in line with the second quarter of 2009, while in markets outside North America, sales grew by 6 percent.

Philips Healthcare posted 2010 second quarter earnings before interest, tax and amortization (EBITA) of €216 million ($279.65 million U.S.), compared with €153 million ($198.1 million U.S.), despite a €22 million ($28.48 million U.S.) increase in restructuring and acquisition-related charges. The company noted its “improvements in earnings were seen across all business lines, notably imaging systems, patient care and clinical informatics and customer services.”

In the comparable year-over-year second quarter, Philips Healthcare shed 750 employees.