September 2, 2018 / 8:59 PM / a year ago

NZ's Fisher & Paykel Healthcare cuts FY guidance on higher expected legal costs

Sept 3 (Reuters) - New Zealand medical device firm Fisher & Paykel Healthcare Corp cut its fiscal 2019 net profit outlook on Monday on the back of expected legal costs to contest patent allegations made by ResMed Inc.

The firm said it would contest the patent allegations made against it by ResMed in the U.S. International Trade Commission (ITC) and U.S. District Court for the Southern District of California.

Due to legal expenses, Fisher & Paykel said its expected fiscal 2019 net profit would be in the range of about NZ$205 million ($135.6 million) to NZ$210 million, lower than about NZ$215 million provided earlier.

Half-year earnings guidance remains unchanged, the firm said in a statement.

$1 = 1.5119 New Zealand dollars Reporting by Aaron Saldanha in Bengaluru, editing by David Evans

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