HOME ZACKS RESEARCH FUNDS PORTFOLIO BROKER RESEARCH MARKETS SCREENING EDUCATION SERVICES
Zacks Rank    Equity Research    Premium Home    My Account    Help    
Now Available: Top 10 Stocks for 2010

These powerful long-term stocks for 2010 have just been announced. Our top picks for 2009 generated a +34.1% return. Don’t miss out. Learn more now.
Quote:
Login Free Membership
Search:

 
Analyst Blog  

Philips Misses Zacks Consensus

October 12, 2009 | Comments: 1
Recommended this article (1)
PHG | SNE | PC | GE
Print    Share

Royal Philips Electronics (PHG - Analyst Report) reported earnings of 27 cents per share for the third quarter of 2009, below the Zacks Consensus Estimate of 38 cents.

Sales amounted to $8.04 billion, a decline of 11% on both nominal and comparable bases.

Healthcare sales declined by 4% on a comparable basis due to declines at Clinical Care Systems, Imaging Systems and Healthcare Informatics.

Consumer Lifestyle sales fell by 15% on a comparable basis, due to declines in all businesses except Health & Wellness.

Lighting sales declined by 13% on a comparable basis, led by double-digit declines at Professional Luminaires, Lighting Electronics and Automotive Lighting.

In mature markets, double-digit declines at Lighting and Consumer Lifestyle were offset by a mid-single digit decline at Healthcare.

Sales in emerging markets showed sequential improvement although it remained 11% below the level achieved in the corresponding prior-year quarter.

The Group cash balance increased by €145 million to €3.7 billion, driven by free cash inflow of €353 million, partly offset by €172 million in payments for acquisitions. Operating activities generated cash inflow of €470 million compared to €210 million in the corresponding quarter of prior year.

Inventories as a percentage of sales rose by 70 basis points to 14% at the end of the quarter. Net debt at the end of the quarter amounted to €0.6 billion compared to €1.5 billion at the end of the prior-year quarter. Group equity remained stable at €13.4 billion.

Royal Philips Electronics, headquartered in the Netherlands, integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Major competitors include Sony Corporation (SNE - Analyst Report), General Electric Company (GE - Analyst Report) and Panasonic Corporation (PC - Analyst Report).

We currently have a Neutral recommendation on PHG.

Email

Print

Share

RSS

Rate Pos

Rate Neg

Comment
Free Stock Analysis From Zacks
  Includes Zacks Long-Term Recommendation and Target Price
Read/Post Comments (1) | Recommended this article (1)
 Posting Comment...
There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]
Comments (Limit 1000 Characters - Used: 0)
Display Name: Email Address:  
 Loading Comments...
121
days
ago
JoeB wrote...
So much for Zacks, a POS as an investment company. Philips stock up and beat the majority of analysts expectations.
 Loading Report Abuse...
There was a problem reporting abuse for this comment. Please try back later.
[CLICK TO CLOSE X]
Please let us know why you believe this comment is in violation of our community guidelines. Our team will take the appropriate action.
 
<< Previous 5View AllNext 5 >>
Best Stocks. Best Insight. Join Now...it's FREE!
Over 550,000 investors look forward to the timely insights in our email newsletter; Zacks Profit from the Pros. In each daily issue you will find:
  • Free  Four Zacks #1 Rank "Strong Buy" Stocks
  • Free  Timely Market Commentary
  • Free  Wealth Management Tips
  • Free  Profitable Strategy Screens
  • Free  Bull and Bear Stocks of the Day
Zacks FREE Registration

More Zacks Resources

Market Summary Feb 10, 2010 10:09 am ET
DJIA 9994.17  -64.47 -0.64%
NASD 2139.17  -11.70 -0.54%
S&P 500 1063.56  -6.96 -0.65%