Royal Philips Electronics NV reported lower third-quarter earnings , reflecting the sale of the company's semiconductor arm a year ago. Philips said sales and operating profits of its remaining operations were higher, due to growth at its lighting and domestic appliance divisions, and lower overhead costs.
Net profit fell to 331 million euros (approx. US$470 million), down from 4.24 billion euros a year ago. Third quarter sales rose to 6.52 billion euros ($9.25 billion), up 3.3% from 6.31 billion euros.