Signify N.V., (SFFYF) a manufacturer of lighting products, on Friday reported a year-on-year decline in profit for the third quarter, reflecting softer sales and lower margins.
Profit before tax fell to €102 million from €114 million a year earlier.
Income from operations decreased to €118 million from €137 million.
Net income declined to €74 million from €108 million in the prior-year quarter.
Sales for the period were €1.407 billion, down from €1.537 billion a year earlier, driven by a 3.9% drop in comparable sales growth and a 4.5% negative currency impact.
For the full year, the company expects comparable sales to decline 2.5%-3%.
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