Cochlear Fiscal Year Net Profit Rises 16% To Record, Outlook Positive

Date : 08/08/2011 @ 9:09PM
Source : Dow Jones News
Stock : Cochlear Fpo (COH)
Quote : 185.51  -0.27 (-0.15%) @ 1:59AM
Cochlear share price Chart

Cochlear Fiscal Year Net Profit Rises 16% To Record, Outlook Positive

Cochlear (ASX:COH)
Historical Stock Chart

5 Years : From Apr 2013 to Apr 2018

Click Here for more Cochlear Charts.

Hearing implant maker Cochlear Ltd. (COH.AU) reported Tuesday that its annual net profit rose 16% and said the outlook remains positive given strong unmet demand for its products in emerging and developed markets.

The Melbourne-based company said net profit for the 12 months to June 30 was a record A$180.1 million, up from A$155.2 million last year. The result was slightly above the average of seven analysts' expectations of A$177.5 million.

"This result was achieved in difficult global financial conditions and highlights the multiple growth drivers the business delivers across products and geographical spread," Chief Executive Chris Roberts said in a statement. "These drivers continue to stimulate long-term sustainable growth."

Cochlear, a world-leading maker and marketer of cochlear hearing implants with about 70% of the market according to a Nomura note, benefited this year from the voluntary recall of a rival product made by Advanced Bionics, a subsidiary of Sonova Holding AG (SOON.VX).

Cochlear said revenue for fiscal 2011 rose by 10% to A$809.6 million from the previous year's A$734.8 million, beating analyst expectations of A$782.2 million.

The company will pay a final dividend of A$1.20, up 14% from a year ago.

-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8272-4679;

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:31 V:us D:20180420 14:30:45