Sonova CEO: To Double Advanced Bionics Sales In 3-5 Yrs
09 11월 2009 - 7:35PM
Dow Jones News
Swiss hearing aid maker Sonova Holdings AG (SOON.VX) plans to
double sales of Advanced Bionics Corporation over the next three to
five years, Chief Executive Valentin Chapero said Monday in a
conference call.
"We also plan to increase the Ebita margin of Advanced Bionics
to 20% or beyond in that period," he added.
In its fiscal year 2008, Advanced Bionics had sales of $117
million and a negative earnings before interest, taxes and
amortization margin of 17%.
Earlier Monday, Sonova said it is buying US-based cochlear
implant systems maker Advanced Bionics Corp. for $489 million,
which was widely welcome by the market.
Sonova will report first-half figures for its 2010 fiscal year
on Tuesday.
Company Web Site: http://www.sonova.com
-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45;
julia.mengewein@dowjones.com
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