The parent company of Philips Healthcare reported steady growth in sales in its medical imaging division for its first quarter (end-March 31), with revenues after currency adjustment growing 3%.
For the period, Philips' Diagnosis & Treatment division reported sales of 1.722 billion euros ($1.92 billion U.S.), up 5% compared with sales of 1.635 billion euros ($1.83 billion U.S.) before currency adjustment in the same period of 2018. Sales grew 3% after adjusting for currency effects.
On the profit side, the division posted income from operations of 51 million euros ($57 million U.S.), up from 22 million euros ($24.6 million U.S.) in the first quarter of 2018. The division's profit as a percent of sales grew to 3%, up from 1.3% in the corresponding quarter of 2018.
The company said that healthcare growth was driven by a double-digit increase in its image-guided therapy segment, while its diagnostic imaging unit saw a sales decline in the mid-single digits. On a geographic basis, growth markets like China and Latin America grew at a double-digit rate. Sales were flat in North America, while Western Europe saw a decline in the high single digits.
