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On April 14, 2009, Koninklijke Philips Electronics ( PHG) reported a net loss for Q1 FY09, hurt by a double-digit sales decline in its consumer lifestyle and lighting segments amid a weak economic environment. Net loss for the quarter stood at EUR 57.00 million, or EUR 0.06 per share, compared to a profit of EUR 294.00 million, or EUR 0.28 per share, in Q1 FY08.

Total revenue dropped 14.9% to EUR 5.08 billion from EUR 5.97 billion a year ago due to lower sales across most segments. Looking at the company's business segments, revenue from lighting decreased 15.1% to EUR 1.50 billion from EUR 1.77 billion, and that from the consumer lifestyle segment plunged 32.5% to EUR 1.76 billion from EUR 2.60 billion in the year-ago quarter. Moreover, revenue from innovation & emerging businesses and group management and services dropped 48.1% and 15.4% to EUR 41.00 million and EUR 33.00 million, respectively. On the positive side, sales from healthcare advanced 18.1% to EUR 1.74 billion from EUR 1.47 billion. Geographically, revenue from Western Europe slipped 19.9% to EUR 1.81 billion from EUR 2.27 billion, while revenue from North America decreased marginally to EUR 1.60 billion from EUR 1.62 billion in Q1 FY08. Furthermore, revenue from emerging markets decreased 21.8% to EUR 1.42 billion from EUR 1.81 billion on a year-over-year basis.

During Q1 FY09, PHF incurred gross capital expenditure of EUR 112.00 million, down EUR 36.00 million from Q1 FY 08. Recently, the company acquired New Zealand-based Selecon, a global designer, manufacturer, and distributor of professional theatrical and architectural lighting fixtures. The company also acquired Dynalite, an Australian company active in the light industry, and announced its plans to launch a home healthcare business in India.

Looking forward to Q2 FY09, the company expects demand to be broadly in line with the first quarter.