Philips Medical Systems said that equipment order intake on a currency-comparable basis showed a minimal decline due to a softening of the North American market for imaging equipment, and that earnings before interest, taxes, and appreciation (EBITA) were essentially flat in its fiscal 2007 first quarter.
For the quarter (end-March 31), the Andover, MA-based firm had sales of 1.46 billion euros ($1.97 billion U.S.), down 1% on a nominal basis (before currency adjustments) but up 3% on a comparable basis (after currency adjustments), compared with 1.47 billion euros ($1.99 billion) in the first quarter of fiscal 2006. The vendor reported EBITA numbers of 101 million euros ($137 million), almost unchanged from the 102 million euros ($138 million) posted a year ago.
Philips said it found sales growth in its MR, x-ray, cardiac care, and customer service segments, but declines in CT sales for the period.
The first quarter also included acquisition and integration charges of approximately 25 million euros ($34 million) related to its purchase of MRI developer Intermagnetics, and that the company will take a 15 million euros ($20 million) charge for each of the remaining three quarters of fiscal 2007.
By AuntMinnie.com staff writers
April 17, 2007
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