Philips satisfied with medical results

Dutch conglomerate Philips Electronics last month reported that1996 sales in its Philips Medical Systems unit progressed welland that the company was satisfied with the division's operatingincome. Philips declined to break out specific sales and profitfigures for the unit, which is part of Philips' Professional Productsand Systems business.

As a whole, however, Philips reported disappointing financialresults for 1996, due to losses in its Grundig division and restructuringcharges. For the year, Philips Electronics posted revenues of$36.82 billion (69.2 billion Dutch guilders), up 7% compared with$34.3 billion in sales in 1995. The company had a net loss for1996 of $313.4 million, compared with net income in 1995 of $1.34billion.