“The world’s second-biggest hearing aid maker, Denmark’s William Demant, reported a slightly weaker than forecast 2013 operating profit and 2014 earnings outlook on Thursday, sending its shares down more than 4 percent,” Reuters reports. “Its outlook for earnings to grow 5 to 10 percent this year was lower than analysts’ estimates in a Reuters poll. Bernstein Research said in a note to clients that the outlook ‘will be viewed as a disappointment as consensus was forecasting EPS growth of 13-14 percent.’ William Demant’s operating profit (EBIT) for 2013 rose 7.9 percent to 1.78 billion Danish crowns ($326 million), below an average 1.81 million crowns estimate in a Reuters poll.”
“The company said it will join Apple’s ‘Made for iPhone’ programme this spring. It will use a system where the connection between the hearing aid and the iPhone goes through a separate transmitter, typically worn around the neck,” Reuters reports. “Danish competitor GN Store Nord, the world’s fourth-biggest hearing aid maker, this week launched the first ‘made for iPhone’ hearing aid in collaboration with Apple. Analysts say its product has a cosmetic advantage as it inserts the technology into the hearing aid itself, although some say this reduces sound quality.”
Read more in the full article here.
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