AMSTERDAM — Dutch health care and electronics giant Philips says its fourth-quarter net profit rose to 899 million euros ($1.1 billion) from 640 million euros in the same period a year ago, as it successfully continued its departure from its past as a lighting company.

Comparable sales growth for the quarter rose 5 percent to 5.3 billion euros ($6.5 billion).

Philips spun off its lighting division in 2016 and now focuses its business on health technology. The company still holds a 29-percent stake in Philips Lighting.

CEO Frans van Houten said Tuesday that the fourth-quarter earnings performance “demonstrates that we are gaining momentum.”

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.