Business news: Philips, Sharp, CRS

April 27, 2010
Philips has reported strong sales growth in Lighting, with 10% now coming from LED products. Elsewhere, Sharp has a new President of SME, and CRS has reported solid growth.
Philips reports growth in Lighting sales
LED sales at Philips

Philips reported first-quarter 2010 sales of EUR 5.7 billion, and EBITA of EUR 504 million. Gerard Kleisterlee, President and CEO of Royal Philips Electronics, said that "growth at Lighting was an impressive 18%, despite a large Professional Luminaires business which is not yet rebounding."

Philips said that its Lighting sales value was EUR 1.8 billion in the first quarter of 2010, and EUR 6.9 billion in the last 12 months to March 2010.

Philips' LED sales as a percentage of Lighting sales were 10% over the last twelve months. As shown in the graph, total LED sales were EUR 0.7 billion, split almost equally between packaged LEDs (i.e. products from Philips Lumileds), and LED lamps and luminaires.

The sales value of approx. EUR 350 million ($466 million) for Lumileds for the last 12 months compares with the LED product revenue reported by Cree of $686 million (total figure for the last 4 quareters – see News).

Change in management at Sharp Microelectronics Europe

Huber and Woodward of Sharp With the beginning of the new financial year on April 1, Sharp Microelectronics Europe (SME) has appointed David Woodward as its new President. Woodward is the former Vice President Sales with responsibility for all sales activities of SME.

Former president Maximilian Huber, who took over the component sales division about 10 years ago and expanded the components business into an operation with an annual turnover of more than EUR1.2 billion, will lead the development of new business areas as Managing Director within the European Sharp organization.

CRS reports 10% growth in sales

CRS Electronics Inc. has reported that its sales for the year ended December 31, 2009 increased 10.4% to $2.53 million, compared to $2.29 million in 2008. However, the net loss was $998,700, or $0.05 per share, versus a net loss of $231,400 for the same twelve-month period last year.

"This has been an exciting year for CRS. Since entering the public markets in May 2009, we have attracted more than $2.4 million in equity financing and increased our LED MR16 unit sales by approximately 300%," said Scott Riesebosch, President of CRS Electronics. "Our goal is to provide a suite of LED lighting products that best address the needs of a large target market. Building and protecting our intellectual property is also one of our highest priorities as we move forward."