Posts Tagged ‘crisis’
Philips net profit, down 94 Percent
Philips, a big electronics companies from the Netherlands, reportedly earned a net profit 45 million euros in the second quarter of 2009 or fall 94 percent over the same period last year. However, the result was higher than analysts predicted earlier that contact Dow Jones Newswires, who predicted net loss after a 125 million euro net profit 732 million euros in the second quarter 2008.
Philips turnover spent 5.23 billion euros in second quarter 2009 are down 19 percent from 6.46 billion euros in the same period last year. This continued weakening market conditions.”We do not see a significant development in the consumer and professional markets in the last three months,” said Chief Executive Gerard Kleisterlee.He added, “During the quarter, we began to see the positive impact of our financial policy is strict.”Philips announced in January that the company wants to stop the 6000 employees around the world to reduce the impact of global crisis.
