AMSTERDAM (AP) — Royal Philips NV, the maker of lights, consumer appliances and health-care equipment, on Monday reported a fall in first quarter profit due to weak sales and because last year’s figures included one-time gains.
Philips’ first-quarter net profit of 162 million euros ($212 million) was down from 183 million euros in the same period of 2012, when it enjoyed 119 million euros worth of one-time gains, notably from the sale of its Senseo coffee maker brand. Sales fell 1 percent to 5.26 billion euros.
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