14919 Tue, 07/22/2008 - 12:59pm
AMSTERDAM, Netherlands–Despite an overall net income drop of 54 percent to $1.1 billion, sales at the Consumer Lifestyle group of Royal Philips, which includes the company’s personal-care products segment, rose slightly in the second quarter, to just over $4.4 billion.
On a comparable basis, sales increased by 7 percent, according to a Royal Philips analysis of the quarter. The gain was driven by “strong double-digit growth” in the division’s health and wellness products and televisions. The segment’s earnings before interest, taxes and appreciation totaled $132 million, down 22 percent from last year’s second quarter, due primarily to restructuring charges.
Global sales for Royal Philips overall finished the quarter at $10.3 billion, up 7 percent over the second quarter of 2007.