twice connect
careers

Philips Turns Profit In TV For Q4

1/25/2010 03:43:33 PM Eastern

Amsterdam, The Netherlands - Royal Philips Electronics reported
that its television operation turned a profit in the fourth quarter, ended Dec.
31, due to higher comp sales.

Philips reported that in its consumer lifestyle business, where
television is based, television comp sales were up 7 percent but overall
television sales were down 1.09 billion euros from the prior year's 1.13
billion euros.

Televisions were profitable for Philips for the fourth quarter
for the first time, with quarterly profits of 29 million euros, compared with a
loss of 154 million euros for the same quarter in the prior year.

Philips said its television performance was based on the comp-sales
growth, a higher Ambilight share of sales "strict margin management, and a
reduction of the fixed cost base," the company said in a statement.

In a prepared statement, Gerard Kleisterlee, president/CEO of
Royal Philips Electronics, said, "Our consumer lifestyle sector managed to show
sales growth, with television turning a profit and virtually all other
businesses posting significantly higher earnings despite the absence of a
material recovery in consumer confidence."

For the entire corporation in its fiscal fourth quarter net
income was 260 million euros, compared with a loss in the prior year's final quarter
of 1.18 billion euros.

Sales in the quarter were 7.26 billion euros, down from the prior
year's final quarter's sales of   7.62
billion euros.

PHOTOS
Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston