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Philips' profit jumps, in part on TSM stake sale

...Sales slipped to 1.46 billion euros from 1.47 billion euros.

Comparable sales rose 3%.

Equipment order intake showed a small decline, which Philips said was due to a softening of the North American market for imaging equipment.

At Citigroup, analysts said the operating results were significantly below its 123-million-euro forecast.

Nomura analysts said investors may fret about the possibility of weaker trading conditions at the division.

Philips recently completed, at a cost of 1 billion euros, the acquisition of Intermagnetics General Corp., a manufacturer of superconducting magnets for MRI systems.

It said the quarter included about 30 million euros in acquisition-related costs.

Philips' consumer-electronics unit, which makes DVD players and portable music players, saw its quarterly operating profit nose up to 34 million euros from 33 million euros.

Sales, however, slipped 9% to 2.2 billion euros, on weak demand for flat-screen TVs and computer monitors.

In the year-ago quarter, the division benefited from strong demand for large flat-screen TVs ahead of the world cup tournament.

Operating profit for the DAP division, which makes shavers, electric toothbrushes and coffee machines, nearly doubled to 107 million euros from 55 million euros in the year-earlier quarter.

Sales jumped 23% to 608 million euros, driven by strong demand for oral-health products and kitchen appliances.

Despite the st...

Boston Scientific says plant problems resolved

...regulators.

The Food and Drug Administration reinspected the St.

Paul, Minnesota, facility between Nov.

9 and Dec.

7.

The facility had been owned by Guidant, which Boston Scientific acquired last year.

The FDA had issued Guidant a warning letter about the deficiencies on Dec.

22, 2005.

End: Story Text © Reuters 2007.

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