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Publicatie datum : 18 juli 2005
Kwartaalcijfers Q2 2005
Philips reports net income of EUR 983 million in the
second quarter
Philips recorded net income of EUR 983 million (EUR 0.78 per share), compared
with net income of EUR 616 million (EUR 0.48 per share) in the corresponding
period of 2004. The EUR 367 million increase in net income was entirely
attributable to the sale of NAVTEQ shares, which yielded a non-taxable gain of
EUR 753 million.
Sales amounted to EUR 7,087 million, 3% lower than in Q2 2004. The weaker US
dollar and dollar-related currencies, as well as various divestments, had a downward
effect of 2%. On a comparable basis, sales decreased by 1%. Solid growth at
Medical Systems and Lighting was offset by declines at Semiconductors and
Mobile Display Systems (MDS).
Income from operations amounted to EUR 147 million, compared to EUR 356
million in the same period of 2004.
Financial income and expenses resulted in an expense of EUR 57 million,
compared with an expense of EUR 65 million in Q2 2004. Income taxes included a
EUR 109 million tax gain relating to a final agreement on prior-years tax
settlements.
Unconsolidated companies contributed EUR 822 million to net income; this
included the gain on the sale of NAVTEQ shares. Results from unconsolidated
companies in Q2 2004 amounted to EUR 430 million, including a net license gain
of EUR 99 million related to InterTrust Technologies Corp. LG.Philips LCD’s
contribution to net income was EUR 10 million, compared to EUR 251 million in
Q2 2004.
Cash flow from operating activities was an inflow of EUR 37 million, compared to
an inflow of EUR 62 million in Q2 2004. Inventories as a percentage of sales
amounted to 13.3%, compared to 12.5% in Q2 2004.
link: Website Philips
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