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Stock Market & Financial Investment News

News Breaks
July 8, 2014
05:41 EDTPHGPhilips Healthcare CEO steps down after Q2 EBITA below expectations
Royal Philips announced that it is implementing a new management structure in its Healthcare sector to "improve performance and allow it to respond better to evolving customer demands in a changing health care landscape." In this new model, the Healthcare business groups will report directly to Philips CEO Frans van Houten, thereby removing one management layer. Deborah DiSanzo, CEO of Philips Healthcare, has decided to leave the company to pursue other opportunities. "The performance in our Healthcare sector is disappointing, with second-quarter EBITA expected to be approximately EUR 220 million, while expected Group EBITA of approximately EUR 400 million in the second quarter is in line with current market expectations," said Frans van Houten. "We anticipate, however, EBITA performance in Healthcare to improve in the second half compared to the same period in 2013 as, among others, Cleveland gradually resumes production in the course of the third quarter."
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September 23, 2014
05:36 EDTPHGPhilips targets 2016 comparable sales growth 4%-6%
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05:36 EDTPHGPhilips sees second half adjusted EBITA slightly below last year
Philips said the continued support from cost savings programs and Philips Excellence, a less negative impact from currency headwinds compared to the first half of 2014, and the gradual improvement in performance in Professional Lighting Solutions North America and Consumer Luminaires Europe are positively impacting the second half of 2014. Factors that are negatively impacting the second half of 2014 are additional costs related to the Cleveland facility with an EBITA impact of around EUR 100M, provision related to certain legal proceedings, and softness in multiple markets. As a result, Philips’ adjusted EBITA in the second half of 2014 is expected to be slightly below the adjusted EBITA in the same period last year. In addition, the Healthcare reported EBITA in the second half of 2014 is now expected to be lower than the reported EBITA in the second half of 2013.
05:35 EDTPHGPhilips to separate Lighting, HealthTech into two companies
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September 17, 2014
06:21 EDTPHGLCD TV shipments expected to grow 3%-5% through 2017, DigiTimes reports
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