Electronics bellwether Philips (NYSE: PHG) reported that net income more than doubled in Q4 2007 vs. Q4 2006. However, the majority of gains were due to the sale of shares in LG Philips LCD (NYSE: LPL) and Taiwan Semiconductor Manufacturing (NYSE: TSM). The company also announced plans to increase the shareholder dividend to 0.70 Euros in 2008 (an increase of 17%).
Of note were robust sales growth in its Domestic Appliances and Personal Care (12%), Consumer Electronics (10%), and Lighting (8%) divisions. Further, revenue increased in Europe / Africa (11%), Asia (17%), and Latin America (10%) but fell slightly in North America (down about 2%). The company also saw strong revenue growth in emerging markets, where sales increased approximately 18% vs. the prior quarter.
Related Links:
Philips - Earnings Results Presentations
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