Royal Philips, the Amsterdam-based health technology conglomerate, released its first quarter earnings on April 29.
Here are four things to know about the company's performance:
1. Philips reported approximately $4.7 billion in sales for the quarter, a 2 percent year-over-year increase.
2. The company's diagnosis and treatment businesses saw a 2 percent increase in comparable sales growth, earning a total of $1.9 billion. The increase was due in large part to double-digit growth for its image-guided therapy devices and came despite a decline in diagnostic imaging solutions.
3. The personal health sector reported earnings of $1.5 billion, for a year-over-year sales growth of 5 percent. The sector saw surges in its oral healthcare and personal care and domestic appliances solutions.
4. Philips reported a 1 percent decline in comparable sales in its connected care businesses, which encompass remote patient monitoring solutions. The sector earned $1.1 billion in revenue due to growth in sleep and respiratory care, but a decline in monitoring and analytics.
"I am encouraged that the measures taken in the Personal Health businesses resulted in regained momentum and a step-up of sales growth, which was led by the high-teens comparable sales growth in the Oral Healthcare business," Philips CEO Frans van Houten said in a statement. "We continue to expect our performance momentum to improve over the course of the year, based on the demand for our innovative products and solutions to improve people's health and enhance care provider productivity, supported by our order book."
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