Amsterdam  - Profit for Dutch electronics manufacturer Philips was less than expected, with company results announced Monday for the first quarter of 2008 amounting to 265 million euros (418.59 million dollars).

Analysts had expected 305 million euros (481.77 million dollars). After taxes, company results were 219 million euros (345.92 million dollars).

Results for the company's Consumer Lifestyle division were most disappointing. Substantially lower sales of television sets, led to a company result of 77 million euros (121.62 million dollars). Analysts had hoped for 144 million euros (227.462 million dollars).

Turnover in the first quarter was not less than expected and amounted to 5.965 billion euros (9.422 billion dollars).

Despite the disappointing results, Philips increased its profit expectations for its long-term strategy Vision 2010, now predicting a profit margin of 10 to 11 per cent. (dpa)