Philips Healthcare reports increased sales, profits
Philips Healthcare reported sales growth of 15 percent to $3.54 billion for the final quarter of 2015 and 19 percent growth to $11.82 billion for the full year, according to the company’s fourth-quarter earnings report.
Adjusted EBITA earnings for Q4 also grew 23 percent to $559 billion compared with the final quarter of 2014, with a year-over-year increase of 17 percent to $2.43 billion.
“We are encouraged by 15 percent order intake growth in Healthcare, which was driven by strong growth in North America, Western Europe and a substantial rebound in China,” said CEO Frans van Houten via the earnings report. “Our focus on multi-year strategic partnerships continued to pay off, as illustrated by three new partnerships based on a managed services model to optimize the delivery of care: with Mackenzie Health in Canada, Granada’s Clinical Hospital in Spain, and Hospices Civils de Lyon in France.”
Other segments of the Netherlands-based technology company didn’t fare as well in the final quarter of 2015, which saw Philips suffer losses of $42.3 million overall.
Full-year profits were reported as $713.9 million on sales of $26.26 billion, with a bottom-line gain of 60 percent on sales growth of 13 percent.
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