Cochlear records flat profit:
This article was originally published in Clinica
Cochlear, the Australian aural implant maker, made A$10.8 million ($8.1 million) in the year ended June 30, with higher sales being offset by a stronger Australian dollar. Sales rose 14% for the year and 16% in the second half. A reduction of the Australian government's R&D tax concession from 150% to 125% led to a A$1 million tax increase for the company. Cochlear plans to roll out the launch of its Nucleus 24 implant system in this financial year and is hoping for US FDA approval by mid-1998.
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