(AP) Royal Philips NV, the world's biggest light maker, says third quarter profits rose on cost-cutting, as sales declined but margins improved.
The company has shed 4,900 jobs over the past year, more than 4 percent of its 114,300 total.
Net profit was 281 million euros ($384 million), compared to 105 million euros in the same period a year ago. Sales fell 3.4 percent to 5.62 billion euros, hurt by the strong euro.
In Philips' lighting division, strong sales of LEDs and fewer charges led to a 140 million euro profit, from a 14 million loss in the same period a year ago.
But CEO Frans van Houten warned of "continuing headwinds in the global economy," which he said would affect sales in future quarters without being specific.