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Phillips Posts Net Loss
Electronics giant Phillips had a rough quarter with weakness in Europe.
January 29, 2012- Philips, the Dutch electronics company, announced on Monday that it had posted a net loss for the fourth quarter of 2011. It blamed European market conditions and losses it has from discontinued operations.
The company posted a loss of $214 million on revenue of $8.85 billion for the quarter. Those figures compared to a profit of $611 million from sales of $8.6 billion in the same quarter a year ago. Philips...