'Tough Market' Conditions Dims Philips Lighting's Outlook
Philips Lighting NV said third-quarter profit fell 30 percent amid a drop in sales in the Middle East and Turkey. Net income was 51 million euros ($56 million) compared to 73 million euros a year earlier, when the Amsterdam-based company was still part of Royal Philips NV, it said in a statement on Thursday. That beat an average estimate of 32 million euros by analysts polled by Bloomberg. Income from operations fell 4 percent to 93 million euros. Philips Lighting CEO Eric Rondolat discusses with Anna Edwards on "Bloomberg Daybreak: Europe."