Cochlear (ASX:COH) reduces earnings guidance for FY20

11Feb

Cochlear (ASX:COH) reduces earnings guidance for FY20

 

Medical device company Cochlear (ASX:COH) is reducing the guidance outlook for FY20 from $290-300 million to $270-290 million.

This is due to an expected impact from the novel coronavirus in Greater China.

Hospitals across Greater China, which includes Hong Kong and Taiwan, are currently deferring surgeries, including cochlear implants, to limit the risk of infection from the coronavirus.

Cochlear’s CEO & President, Dig Howitt says “while we cannot predict how long surgeries will be delayed, the low end of guidance factors in a significant decline in sales for Greater China for the second half”.

Shares in Cochlear (ASX:COH) are trading 4.99 per cent lower at $232.54.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

28Oct

Stocks of the Hour: Asian Battery Metals PLC, Li-S Energy, LCL Resources

28 Oct 2024 - A snapshot of the stocks on the move, featuring Asian Battery Metals PLC (ASX:AZ9), Li-S Energy (ASX:LIS) and LCL Resources (ASX:LCL).

Read More
05Oct

Stocks of the Hour: Latin Resources, American Rare Earths, Demetallica

05 Oct 2022 - A snapshot of the stocks on the move featuring Latin Resources (ASX:LRS), American Rare Earths (ASX:ARR) and Demetallica (ASX:DRM).

Read More
31Dec

Stocks of the Hour: Magnis, Global Lithium Resources, Mesoblast

31 Dec 2021 - A snapshot of the stocks on the move featuring Magnis Energy Technologies (ASX:MNS), Global Lithium Resources (ASX:GL1), and Mesoblast (ASX:MSB).

Read More
30Apr

Origin Energy (ASX:ORG)’s Q3 revenue contradicts production volumes

30 Apr 2021 - Power supplier Origin Energy (ASX:ORG) has reported a 4 per cent decline to 65.4 petajoules in integrated gas production in the first 3 months of 2021, as compared to the previous quarter. The ASX-listed energy player has attributed the fall to scheduled maintenance routines at gas production sites.

Read More
03Sep

Starpharma (ASX:SPL) awarded $1 million funding for Covid-19 spray

03 Sep 2020 - Starpharma (ASX:SPL) has been awarded $1 million in matched funding by the Australian Government’s Medical Research Future Fund (MRFF) Biomedical Translation Bridge (BTB) Program.

Read More
16Sep

IMF Bentham announces conditional settlement Australian shareholder class action

16 Sep 2019 - Litigation funder IMF Bentham (ASX:IMF) has today confirmed that it has reached a binding settlement deed in the securities class action against UGL which is conditional only on final approval by the Federal Court of Australia.

Read More
06Nov

MC Mining secures rights in South Africa

06 Nov 2019 - MC Mining (ASX:MCM) has been awarded a mining right for its 74 per cent owned Generaal coking and thermal coal project in the Limpopo province from the South African Department of Mineral Resources.

Read More
21Dec

Weebit Nano (ASX:WBT) file two new patents

21 Dec 2020 - The Israel-based semiconductor company, Weebit Nano (ASX:WBT) in conjunction with its development partner Leti, are pleased to announce that they recently filed two new patents related to Weebit Nano’s Silicon Oxide (SiOx) ReRAM technology.

Read More
28Jul

Temple & Webster (ASX:TPW) revenue up despite tough retail conditions

28 Jul 2020 - Australia’s largest e-commerce company in the furniture and homewares market, Temple & Webster Group (ASX:TPW), reports its FY2020 revenue is up 74% to $176.3 million, despite tough retail conditions.

Read More
16Oct

Noxopharm (ASX:NOX) makes changes to its executive structure

16 Oct 2019 - Noxopharm (ASX:NOX) has made some changes to its senior executive and Board structures.

Read More