Philips warns on Q4, blames weak Europe

AMSTERDAM (Reuters) - Philips Electronics warned fourth-quarter results will be disappointing as it books charges for inventory it can't shift in weak European markets.

The Dutch group said it will report slowing sales growth across divisions and sharply lower earnings before interest, tax and amortization (EBITA).

It still expects to meet its 2013 financial targets as it continues to cut costs and restructure.

"Our expected fourth-quarter financial results have been affected by the weakness in Europe, which has impacted our Healthcare business, as well as pricing in our Consumer Lighting business," Chief Executive Frans van Houten said.

Philips is set to report fourth-quarter results on January 30.

(Reporting By Roberta B. Cowan; Editing by Dan Lalor and Erica Billingham)

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