Phillips Gives Cautious Outlook
Phillips Electronics (NYSE:PHG) has given a cautionary notice stating that its fourth quarter profits will be impacted by the softness in European markets. The weaker-than-expected demand in Europe has resulted in accumulated inventory, driving up inventory-related charges. Fourth quarter earnings are expected to come in approximately 45% lower than the year-ago quarter. During the [...]
Phillips Electronics (NYSE:PHG) has given a cautionary notice stating that its fourth quarter profits will be impacted by the softness in European markets. The weaker-than-expected demand in Europe has resulted in accumulated inventory, driving up inventory-related charges.
Fourth quarter earnings are expected to come in approximately 45% lower than the year-ago quarter. During the fourth quarter of 2011, the company reported profits worth €900 million and now it is expected that earnings … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards