Philips Medical Systems of Andover, MA, is on track to achieve annual organic sales growth of 6% and a profit margin of 14% to 15% (before deductions of interest, tax, and amortization expenses) in 2007.
That's the forecast from parent company Royal Philips Electronics to investors and financial analysts this week. Philips Medical Systems CEO Steve Rusckowski told the gathering that the company will continue building on its pipeline of products, such as PET/CT, and build on its market share by focusing on high-growth emerging markets.
Following its acquisitions of Intermagnetics General, Witt Biomedical, and Stentor, Philips also will explore opportunities for alliances and additional acquisitions, the company said.
By AuntMinnie.com staff writers
June 1, 2007
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