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The Hague - Dutch electronics giant Philips reported Monday a three-fold rise in third-quarter net income to €524m, due partly to rising emerging market sales.
"We ... continued on our growth path in emerging markets, with 19% nominal and 7% comparable sales growth," Philips president Gerard Kleisterlee said in a statement.
"This means that we now generate more than one-third of our sales in these markets."
The income statement was boosted by €154m from the sale of Philips' remaining stake in semi-conductor manufacturer NXP to the Philips UK pension fund.
Philips said comparable sales for mature markets, "in a still fragile economic environment", declined by one percent.
Overall sales grew from €5.6bn a year ago to €6.2bn, with a four percent increase in comparable sales figures for healthcare products and seven percent in lighting, the company said.
For consumer lifestyle products, comparable sales were five percent lower than a year ago, with comparable sales of televisions 12% down.
Philips said earnings before interest, tax and amortisation (Ebita), amounted to €648m or 10.5% of sales - €304m higher than a year ago.
"Given the uncertain economic climate and fragile consumer confidence in some of our markets, we take a cautious view on revenue development in Q4 2010," Philips said.
"We will continue to drive growth initiatives and operational improvements to further exceed the targeted Ebita, adjusted for restructuring and acquisition-related charges, of 10% for the full year 2010."
For the first nine months of the year, the figure was 10.1% - up from 6.1% in 2009.
Philips employs more than 118 000 people in more than 60 countries.
