BRIEF-Sonova Holding Raises Its Outlook For FY 2019/20 [Reuters]
SONOVA HLDNG AG UNSP/ADR (SONVY)
NASDAQ:AMEX Investor Relations:
sonova.com/en/investors
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Source: Reuters
BRIEF-Sonova Holding Raises Its Outlook For FY 2019/20 Feb 18 (Reuters) - SONOVA HOLDING AG: * AB INITIATES VOLUNTARY FIELD CORRECTIVE ACTION - STRONG PERFORMANCE OF HEARING INSTRUMENTS BUSINESS * VOLUNTARY FIELD CORRECTIVE ACTION IS EXPECTED TO TEMPORARILY AFFECT SALES AND EARNINGS DEVELOPMENT OF AB DURING DEPLOYMENT OF NEW VERSION OF PRODUCT * NOW EXPECTS 19/20 SALES TO GROW BY 9-11% (FROM 8%-10%) AND ADJUSTED EBITA TO RISE BETWEEN 14%-17% (FROM 12%-15%) * DUE TO OUTBREAK OF NOVEL CORONAVIRUS SONOVA’S OPERATIONS IN CHINA RESUMED THEIR ACTIVITIES AFTER CHINESE NEW YEAR ONE WEEK LATER THAN PREVIOUSLY PLANNED * AT THIS TIME, THIS IS NOT EXPECTED TO MATERIALLY IMPACT SONOVA’S RESULTS. Source text for Eikon: Further company coverage: (Gdansk Newsroom)
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