Royal Philips said that its Diagnosis and Treatment segment, which includes Philips Healthcare, achieved robust sales growth in its second quarter (end-June 30).
Despite what the company described as a "soft market," the Diagnosis and Treatment segment had second-quarter sales of 1.67 billion euros ($1.93 billion U.S.), up 4% on a nominal basis and up 3% on a comparable basis from the 1.6 billion euros ($1.85 billion U.S.) reported in the second quarter of 2016. The quarterly sales results reflected midsingle-digit growth in ultrasound and image-guided therapy, as well as low-single-digit growth in diagnostic imaging, according to the vendor.
On a geographical basis, Philips credited second-quarter comparable sales growth to double-digit growth in Western Europe and high-single-digit growth in North America. These gains were partially offset by a midsingle-digit decline in growth geographies; midsingle-digit growth in China was more than offset by a decline in the Middle East and Turkey, India, and Africa, as well as a double-digit decline in other mature geographies, the company said.
Net income adjusted for earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter reached 193 million euros ($224 million U.S.), compared with 176 million euros ($204 million U.S.) in the same quarter a year ago.
