Hearing implant cochlear implant manufacturers have announced a 29% decline in new products in the second half of the year, despite improved sales. Cochlear achieved a net profit of 93.7 million U.S. dollars during the 12 months to June 30, which was a decrease from 132.6 million U.S. dollars in the same period last year. Sales revenue increased by 15% to 821 million U.S. dollars in one year.
Coral's CEO, Dr. Chris Roberts, said that the introduction of new products and increased sales in the second half will help drive the company's performance in the coming year. “Although it is still in the early stages of the product release cycle, the sales record in the second half gave us confidence because we went to F15,†he said.
A lack of regulatory approval has seen the company's profits slip by 73% during the six months to December 31. The company announced a 20% tax deduction, which was eventually divided into $1.27 per share, unchanged from the same period last year. It brings a year-round distribution of $2.54 per share.