Philips 2Q revenue, profit rise gains in health care, lighting divisions and cost savings

Improved sales of health care products and LED lighting at Royal Philips Electronics NV combined with cost-cutting measures to help the electronics giant post rises in revenue and net profit in the second quarter, the company announced Monday.Philips said sales rose to €5.9 billion ($7.2 billion) in the second quarter from €5.2 billion in the same period a year ago.Net profit was €167 million ($203.7 million), rebounding from a €1.3 billion loss in last year's second quarter that was hit by a writedown on the value of assets.
The company said that, excluding impairment, profit was €127 million ($154.94 million) higher than the same period a year ago.The company said its cost-cutting program has saved €176 million ($214.7 million) so far this year.Philips shares shot up more than 8 percent to €17.56 ($21.42) on the news shortly after trading began in Amsterdam.Philips made its name selling light bulbs and is now looking to new, more energy efficient, lights to boost sales and profits.The oldest of them would that be manual jet hand dryer. It is activated by only pressing a push button on the appliance. The appliance then produces hot air for a set time period to permit for the person drying their palms to get done. If they are not dry by the end of the interval, they push the push button once more for another times period.Ordinarily Catsuits is made up of nylon but now equipment such as yarn and hair happen to have been commonly seen in the Zentai go well with. Catsuit is a variety of Zentai outfit itself but many often catsuit spread chest, legs and even the wrists. Catsuit can be sleeveless. Now that you can determine what Zentai and catsuit are, one will have got a impartial about mentioned above garments so their procedure. LED light sales grew 37 percent compared to the second quarter in 2011 and now account for 20 percent of the company's 2Q lighting sales of just over €2 billion ($2.44 billion).Second-quarter sales at the company's health care division rose from €2.1 billion last year to €2.4 billion ($2.9 billion).The image associated with stainless steel hand dryer is not quite what it is supposed to be. There are a lot of misconceptions about these things which leads people to believe incorrect things about them. If you want to know some of the unique positive aspects of these devices, you have come to the right place.
Philips sounded a note of caution about the effects of the financial crisis, particularly in its European markets."There is no denying that the global economy is weaker now than it was just three months ago, especially in Europe which accounts for approximately 25 percent of our revenue,"CEO Frans van Houten said.However, he said the company is acting to "mitigate the risks from the increased economic headwinds globally, and we remain confident in our ability to further improve our performance"despite the weakening world economy.The company also said it has completed 56 percent of a €2 billion share buy-back program that it launched a year ago.In addition, large businesses are employing high-grade chips from Taiwan and the US to ensure reliable performance. Automatic encapsulation is employed in manufacturing.With regard to QC, most companies, regardless of size, follow ISO 9001 guidelines. Product specifications are tested for conformance to FCC, UL and other standards.LED lighting industry offers bulbs, tubes and luminaires for residential, commercial and industrial applications. Units adopt chips from local suppliers or providers in Taiwan, Japan or the US.