Chief Executive Anders Hedegaard of hearing aid and headset maker GN Store Nord made the following comments to Reuters after the company posted second-quarter results slightly lower than analysts in a Reuters poll had expected:
* “The acquisition of Audigy Group was an important event for us in the second quarter and it will support our growth going forward.”
* “The gross margin in the second quarter was lower than in previous quarters. It was mainly due to a change in product mix but it is also related to costs related to the acquisition of Audigy.”
* “We keep full-year guidance but to reach that we need to make a higher profit in the second half of 2016. It’s a challenge but we think it’s possible.”
* Q2 revenue 2.25 billion Danish crowns ($337.8 million) (Reuters poll 2.18 billion crowns)
* Q2 EBITA 345 million crowns (Reuters poll 352 million crowns)
* Financial guidance for 2016 is confirmed
* GN Hearing confirms its 2016 guidance of organic growth of around 6 percent and EBITA of around 1.20 billion crowns.
* GN Audio confirms its 2016 guidance of organic growth of 7-10 percent and EBITA of around 590 million crowns
Source text for Eikon:
Link to Reuters poll:
Further company coverage: ($1 = 6.6606 Danish crowns) (Reporting by Copenhagen newsroom, editing by Terje Solsvik).
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Source: Reuters.com
