Cochlear announces earnings upgrade
Wednesday, 14 December, 2005
Bionic ear specialist Cochlear (ASX:COH) has announced an upgrade of its guidance on core earnings for the 2005-06 financial year to AUD$80 million.
The company gave previous guidance that its core earnings for the year would increase by 20 per cent from 2005 financial year levels to about $70 million. Stronger sales could now lead to an increase of 37 per cent over the last year, the company said, with core earnings in the order of $80 million.
"Sales momentum, which picked up the second half of the last financial year, has continued to be stronger than predicted, particularly from the new Nucleus Freedom Cochlear Implant System released from April 2005," said Cochlear CEO Chris Roberts in a statement.
The company will provide further details of its first half results on February 14, 2006.
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