“In a trading statement, Sonova, the world’s largest hearing aid maker by sales, said the implant recall at its U.S. unit Advanced Bionics will also lead to a goodwill impairment charge of up to 200 million Swiss francs ($217.8 million), which will be booked in fiscal 2009/2010 when Sonova bought the U.S. firm for about $489 million”
Sonova had “acquired to get a foothold in the technically demanding but also error-prone cochlear implant market”
Sonova Holding AG (SOON) slumped 23 percent, the largest retreat in eight years, after the hearing aid maker lowered its sales and profit forecasts. Syngenta AG (SYNN), the world’s biggest maker of chemicals for agriculture, gained 2.2 percent.
And my question is what, pray tell, is “the goodwill impairment charge”
Just asking folks!
Oh and if u want – u can google for the Sonova press release that went out a few weeks ago projecting that they would be back in the CI production business by April – just waiting approval by various regulatory groups across the globe. It’s March 17 (St. Paddy’s day) today and i dont think the factory in Ca. is going chalink – chalunk yet.
Ahhh to keep trying to come up smelling like roses – and a goodwill of a time was had by all (well not by the folks who had to have their CIs explanted and new ones implanted, and not by the folks with other complications that needed other solutions, and not by the folks who were raised oral-aural-ONLY to go along with their Advanced Bionics CI / AVT package deal only to be left with a severe language delay and not by the folks who got infections from the other Advanced Bionic CIs that had positioners cuz some of those folks got seriously ill and some of them even got killed).
The Dow Jones Newswire article concludes with:
“Sonova expects the growth drivers in the hearing systems market to remain unchanged,” it said, adding that the company ” is continuing to aim to achieve long-term growth…by expanding its sales channels and new business areas.”
hmmmmm? coming to a developing country near you soon?
just asking what it all means, folks.
There is money in them thar ears or they would have packed up shop by now – they did down size due to the recall and halt on all productions but…. they seem mighty hopeful to be back to business as usually real soon cuz the ticket counter is a crashing in the mean time.
Previous entry about Sonova Advanced Bionic’s latest recall
Links to several Cochlear Implant companies who have been in legal trouble