Philips Q4 profit doubles on lumileds takeover

Royal Philips Electronics NV, Europe’s largest televisions and coffee machines maker, fourth-quarter profit mounted more than the expectations, helped by the purchase of the Lumileds lighting maker and lower one-time expenses. Its net income climbed to $881.9 million or 59 cents a share, from 27 cents a share, a year earlier. Full-Year Targets: Philips expects to chase the target of 5 percent to 6 percent in 2007. The company plans to pay a dividend of 60 cents a share for 2006, from 44 cents a share the year before. The company said; We expect 2007 to be a good year of continued growth and increased profitability After purchasing Lumileds in 2005, Philips focus on making medical scanners, shavers and light bulbs with higher and more stable earnings. Lumileds is the world’s largest maker of high-power light-emitting diodes, which used in mobile-phone camera flashes and liquid-crystal displays.