Philips reports Q4 in line, divests audio-video business
AMSTERDAM Jan 29 (Reuters) - Philips Electronics reported a fourth-quarter net loss of 355 million euros ($478 million) due to previously flagged provisions, and said it is selling its audio and video business to Funai Electric Co for 150 million euros.
The Dutch consumer electronics, medical equipment and lighting group announced adjusted quarterly earnings before interest, tax and amortisation (EBITA) of 875 million euros on sales of 7.161 billion euros.
Analysts in a Reuters poll had forecast adjusted EBITA of 847 million euros, a net loss of 308 million euros and sales of 7.161 billion euros.
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- U.S. aircraft hit by gunfire in South Sudan as conflict worsens |
- Seagram chairman, WJC head Edgar Bronfman dead at 84