Philips warns on Q3 semiconductor sales
Sep 20, 2001
AMSTERDAM, Sept 20 (Reuters) - Dutch Philips Electronics NV said on Thursday it expected third quarter sales of semiconductors to decline 17 to 18 percent compared to the second quarter. Philips also said it would take a 20 million euro restructuring charge in the third quarter and a 90 million euro charge in the fourth quarter. Philips said inventory reductions appeared to be coming to an end and that it expected factory utilisation rates to rise in the fourth quarter compared to the third.
