Revenues grew 5% after currency adjustments for the second quarter of 2016 in the Philips Healthcare division that sells diagnostic imaging systems.
For the period, revenues in the company's Diagnosis & Treatment unit were $1.56 billion U.S. (1.419 billion euros), up 9% before currency adjustments from $1.43 billion (1.304 billion euros) in the same quarter of 2015. After adjusting for currency fluctuations, revenues grew 5% for the period. Earnings before interest, taxes, and amortization (EBITA) were $25.3 million (23 million euros) for the period, compared with a loss of $14.3 million (13 million euros) in EBITA for the corresponding quarter of 2015.
The company reported that its EBITA improvement was led by higher volumes and cost productivity, partially offset by the impact of currency changes. The company incurred restructuring charges of $10 million (9 million euros), compared with restructuring charges of $22 million (20 million euros) in the corresponding quarter of 2015.
For different product segments of the Diagnosis & Treatment division, the company reported double-digit growth in its image-guided therapy business and growth in the midsingle digits in its ultrasound unit. Sales in the company's diagnostic imaging unit were in the low single digits.
On a regional basis, growth geographies rose at a double-digit rate, led by China and India. Mature geographies reported growth in the low single digits, with growth in the midsingle digits in Western Europe and low single digits in North America. This partially offset a decline in the low single digits in other mature geographies.
