GN Ups Its Financial Guidance for 2013

GN ReSound increased its financial guidance to investors and market analysts today, upgrading its organic revenue growth projections from 4%-6% to “more than 7%.” EBITA guidance was increased from previously “DKK 775-825 million” ($138-$147 million) to “more than DKK 825 million,” corresponding to “around 20% EBITA margin” in line with the target previously communicated.

The company cited innovative designs using 2.4 GHz technology as the main reason for its growth, as well as its expanding relationship with Costco both in the United States and globally. “The continued positive top line growth derived from the leading technological position is highly encouraging,” stated GN in a press release. “The development warrants exploration of potential upsides, and it has been decided to reinvest some of the additional profits from the higher revenue in driving future revenue growth. Today’s strong sales momentum is a testimony to the uniqueness of GN ReSound’s products including key features such as the breakthrough Binaural Fusion^TM, Surround Sound by ReSound^TM and the wireless 2.4 GHz technology, which are all thoroughly appreciated by hearing aid users and dispensers globally.”

Guidance for GN Netcom, the group’s headset division (Jabra), remained the same, with a predicted organic growth of 17%-20% and an EBITA of DKK 450-500 ($80-$89 million).

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