Strong chip sales boost Philips' 3Q results
Electronic Buyers' News
(10/18/00, 12:01:03 PM EDT)
EINDHOVEN, the Netherlands -- Philips Electronics NV's semiconductor unit posted a 55% increase in revenue during the recently ended quarter, leading all other divisions of the Dutch company.
Philips, Eindhoven, the Netherlands, said its chip unit had sales of $1.56 billion-based on recent U.S. dollar exchange rate for the euro-in the quarter ended Sept. 31, up from $1 billion, in the third quarter of 1999.
Company-wide sales rose 21%, to $8 billion from $6.6 billion, while income from operations, which measures profitability based on product sales, rose 168%, to $808 million from $301 million in the year-ago quarter.
“The strong sales growth in the third quarter was driven by booming sales of semiconductors, with sales for components, consumer electronics and domestic appliances, and personal care also ending significantly higher,” Philips said, in a statement.
The company said supply constraints in the semiconductor and consumer-electronics markets resulted in a much better pricing environment although average selling prices of its products still declined 5% during the quarter, compared with 8% in the corresponding 1999 quarter. |
