Published October 26, 2015
Lighting and healthcare giant Royal Philips NV says its third-quarter net profit soared to 324 million euros ($357 million) from a loss of 103 million euros in the same quarter last year, when it took a 366 million-euro charge after losing a patent lawsuit.
Sales rose to 5.84 billion euros from 5.2 billion.
Philips also announced Monday that there is a hitch in the sale of an 80.1-percent stake in its LED components and automotive lighting division to a consortium led by investment fund GO Scale Capital.
The deal, worth up to $2.9 billion, was expected to be completed in the third quarter, but Philips says that the Committee on Foreign Investment in the United States has "expressed certain unforeseen concerns" about the sale.
https://www.foxnews.com/world/philips-sales-and-profits-up-in-3rd-quarter-delay-in-sale-of-led-lighting-division-stake