Royal Philips (NYSE:PHG) said today that the slower-than-forecast return of an Ohio CT scanner plant will put a roughly $265 million hit on its 2014 results, sending share prices down in mid-morning trading.
The Dutch conglomerate said it's resumed shipments of its Brilliance iCT device from the Cleveland plant, but said the production ramp-up during the 4th quarter last year was slower than expected. Philips shut the plant down early last year after the FDA said its manufacturing controls were inadequate.
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The Dutch conglomerate said it's resumed shipments of its Brilliance iCT device from the Cleveland plant, but said the production ramp-up during the 4th quarter last year was slower than expected. Philips shut the plant down early last year after the FDA said its manufacturing controls were inadequate.
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