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PERTH, March 23 Asia Pulse - Bionic ear manufacturer Cochlear Ltd (ASX:COH)
has maintained its 20 per cent forecast increase in sales and profit for
the full year.
Cochlear posted a 54 per cent increase in net profit for the half year
following an initial surge in sales of its new bionic ear device ESPrit
22.
However the result included the advancement in tender sales and the launch
of ESPrit 22.
"That was helped by some early tenders, we wouldn't expect the same
result, we're sticking with a bit better than 20 per cent this time, 20
per cent year-on-year for the next five years," managing director Jack
O'Mahony told AAP after a Securities Institute lunch here Thursday.
Cochlear recently flagged plans to double its hearing manufacturing
capability in Sydney to meet demand for its hearing devices.
Mr O'Mahony said capacity would be doubled "in the next couple of years".
Cochlear sells its hearing devices in more than 60 countries with
Australia accounting for just four per cent of total sales.
The company is currently lobbying the federal government to make child
tests compulsory across the nation, following a similar move in some 12 US
states.
Meanwhile Mr Mahoney said contrary to some previous reports, Cochlear had
not resolved the patent dispute with rival company ABC of the US.
"We haven't resolved it, it is an ongoing issue. We're talking," he said.
"But we look upon it as a non issue because we've got the technology and
we can prove we had it first.
"We feel frankly that we have a very good case and wherever it goes it
goes."
He said the overhang of the dispute had not effected Cochlear's
performance in the market. |
