Philips shows strong growth in 2005

Philips iSite PACSPhilips Medical Systems had 8% comparable growth in sales over fourth quarter 2004, driven by double digit growth in computed tomography, ultrasound, nuclear medicine, cardiac and monitoring systems and X-ray. Total sales in the division were €2.029bn.

The income from operations was €267, a small decline over 2004 when adjustments are taken into account. This included a €66 million loss for MedQuist. Orders for the division grew 15%, with orders for the iSite PACS from the newly acquired Stentor more than doubling.

Income was adversely affected by rapid revenue growth in emerging markets and there was increased investment in molecular medicine and new sensor technologies. The acquisition of Stentor had a negative impact of about €10 million on income.

The full 2005 financial results:

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