Philips Lighting sees brighter 2017 as fourth-quarter profit disappoints

By Toby Sterling EINDHOVEN, Netherlands (Reuters) - Philips Lighting , the world's biggest lighting maker, reported lower than expected fourth-quarter earnings on Monday, reinforcing fears that it won't be able to grow new product lines as fast as older ones decline and margins erode. The subsidiary, floated by Philips in May, is in a race to grow its LED and Professional Lighting businesses faster than its traditional, but highly profitable, bulb business shrinks. "There is one big negative in