|
 The Danish company said earnings before interest, taxation and
amortization rose to 291 million Danish crowns ($43 million) from
253 million crowns a year earlier, below an average estimate of 303
million crowns in a Reuters poll.
The company, the third largest hearing aid maker in the world, still
sees 2015 earnings before interest tax and amortization (EBITA) of
more than 1.48 billion crowns and organic revenue growth of more
than 8 pct.
Sydbank analyst Morten Imsgard described the two divisions as "night
and day".
"The hearing aid division is performing really well, with new
product launches helping from March and the lift in earnings. "But
the headset division is struggling with weak markets, just as we saw
with main competitor, Plantronics," he said.
Shares in the stock fell by as much as 2.7 percent in morning trade
but had recovered to trade 1 percent lower at 144.60 Danish crowns
each.
The Danish company wowed the market a year ago when it launched a
hearing aid developed with Apple which connected directly to iPhones
to stream voice and music from the devices.
On Wednesday, it said U.S. sales grew and it increased its market
share. Its ties with Apple were strengthened when it developed a
ReSound app for the Apple Watch, when the wearable device was
launched by the U.S. tech giant.
But growth in the headset segment, where GN Store Nord produces the
Jabra devices found in many offices and call centres around the
world, were sluggish and results for the division were hurt by
adverse foreign exchange movements.
[to top of second column] |
"In general, the stronger dollar is positive for GN Store Nord and
especially for ReSound. Looking into 2016, we expect a three-digit
million contribution to the bottom line (in Danish crowns)," Chief
Financial Officer Anders Boyer told Reuters.
"Netcom however, has more expenses in dollars than income, and
therefore reacts negatively on the strengthened currency."
Boyer denied speculation that GN Store Nord was interested in buying
the Danish luxury stereo and television set maker Bang & Olufsen but
did say the company wanted to develop a third branch of its
business.
(Reporting by Annabella Pultz Nielsen, writing by Sabina Zawadzki,
editing by Louise Heavens)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
