Business
US litigation case loss, COVID-19 hurts Cochlear earnings – NEWS.com.au
Hearing implant firm Cochlear sheds millions in US litigation case loss
Hearing device developer Cochlear Ltd has taken a dive in full-year earnings after being hit with the cost of losing a long-running patent litigation case in the US.Sales revenue also fell as the coronavirus pandemic caused elective surgery deferrals in the second half.
The company booked a reported net loss of $283.3 million for 2019-20, an about-face from its reported net profit of $276.7 million for the previous financial year.
The Alfred E Mann Foundation for Scientific Research and Advanc…
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