November 25, 2002
Phonak posts first half loss
From: Swissinfo, Switzerland - 25 Nov 2002
Phonak posts first-half loss
Phonak, the Swiss hearing aid manufacturer, has posted a first-half loss of SFr66.4 million ($45.1 million).
The company reported a drop in earnings before interest, taxes, depreciation and amortisation operating profit of 57.7 per cent to SFr20.5 million.
Phonak's consolidated sales were down 7.9 per cent to SFr266.6 million, and it took a goodwill impairment charge of SFr75 million.
Sales at Phonak are forecast to rise in its second half, to a full-year total of SFr560 billion.
swissinfo / SRI
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