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GN Store Nord A/S (GN.CO)

GN.CO on Copenhagen Stock Exchange

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Latest Key Developments (Source: Significant Developments)

GN Store Nord looses lawsuit against Plantronics
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - GN STORE NORD SAYS:‍JURY RULES IN FAVOR OF PLANTRONICS IN GN AUDIO'S LAWSUIT AGAINST PLANTRONICS..IN 2012, GN AUDIO FILED A LAWSUIT AGAINST PLANTRONICS FOR UNLAWFUL MONOPOLIZATION OF THE DISTRIBUTORS MARKET IN THE US..THE JURY HAS NOT FOUND THAT PLANTRONICS' BEHAVIOR IN THE MARKET PLACE WAS UNLAWFUL. .GN AUDIO WILL, UPON RECEIPT OF THE WRITTEN REASONS FOR THE JUDGMENT, DECIDE WHETHER OR NOT IT WILL APPEAL THE DECISION..THIS ANNOUNCEMENT DOES NOT CHANGE THE FINANCIAL GUIDANCE FOR 2017. ​.  Full Article

GN Audio acquires VXI Corp
Thursday, 13 Oct 2016 

Gn Store Nord A/S :Owner of Jabra GN Audio says it has acquired VXI Corporation, headset manufacturer of both VXI and Blueparrott brands.  Full Article

GN Store Nord: GN Audio acquires VXi Corporation
Thursday, 13 Oct 2016 

GN Store Nord A/S : Has acquired VXi Corporation . Purchase price is $35 million on a debt and cash free basis .Acquisition will not affect GN's financial guidance for 2016.  Full Article

GN Store Nord says it launches 2017-2019 strategy
Monday, 26 Sep 2016 

GN Store Nord : Says it launches company's 2017-2019 strategy . Says targets for GN Hearing 2017-2019 annual organic revenue growth of 6-8 percent . Says targets for GN Audio 2017-2019 annual organic revenue growth of 6-9 percent . Says that ownership of GN Otometrics is transferred from GN Hearing to Natus Medical . Says as part of the transfer of ownership of GN Otometrics, GN hearing and Natus have made strategic partnership on future technology, product development and commercialization . Says GN Hearing's EBITA guidance for 2016, excluding GN Otometrics, is updated to around DKK 1,100 million before transaction-related costs during the year . Says "upgrade and enhancements to commercial approach and an empowered performance-minded organization" . Says targets for GN Hearing 2017-2019 EBITA margin of 20-22 percent . Says targets for GN Audio 2017-2019 EBITA margin of 17-19 percent . Says the world's first complete digital ear scanning solution, Otoscan, will be fully commercialized by Natus with future royalties to GN Hearing .Says transaction-related costs for FY 2016 are estimated DKK 20 million related to the divestment of GN Otometrics and DKK 22 million related to the acquisition of Audigy Group.  Full Article

GN Store Nord Q2 EBITA DKK 345 million; below expectations
Thursday, 11 Aug 2016 

GN Store Nord A/S : Q2 revenue 2.25 billion Danish crowns ($337.8 million) (Reuters poll 2.18 billion crowns) . Q2 EBITA 345 million crowns (Reuters poll 352 million crowns) . Financial guidance for 2016 is confirmed . GN Hearing confirms its 2016 guidance of organic growth of around 6 percent and EBITA of around 1.20 billion crowns .GN Audio confirms its 2016 guidance of organic growth of 7-10 percent and EBITA of around 590 million crowns.  Full Article

GN Store Nord: Court Order issued in ongoing litigation between GN Netcom, Inc. v. Plantronics
Thursday, 7 Jul 2016 

GN Store Nord A/S : Court Order issued in ongoing litigation between GN Netcom, Inc. v. Plantronics . Says United States District Court in Wilmington, Delaware, issued its order on this motion for sanctions . Says order imposed punitive sanctions against plantronics in amount of $3 million . Says order imposed additional monetary sanctions reimbursing GN for reasonable fees and costs incurred in connection with discovery disputes leading to motion for sanctions . Says order imposed possible evidentiary sanctions, if requested by GN Netcom and found by Court to be warranted as this case progresses toward trial . Says order imposed instructions to jury that it may draw an adverse inference that emails destroyed by Plantronics would have been favorable to GN's case and/or unfavorable to Plantronics' defense .Order does not impact GN's financial guidance for 2016.  Full Article

GN Store closes acquisition of Audigy Group
Monday, 4 Jul 2016 

GN Store Nord A/S : Said on Friday had completed acquisition of Audigy . Said all necessary conditions, including relevant regulatory approvals, had been met .Audigy will be separate company and subsidiary of GN Hearing's US business entity.  Full Article

GN Store Nord to buy US-based hearing aid business
Sunday, 15 May 2016 

GN Store Nord : Says hearing aid division GN Resound has signed a long-term supply agreement with Audigy Group. Has also entered into a contingent agreement to acquire the company . Says will pay $91 million up-front for Audigy Group and earn-out payments of up to $60 million . Says Audigy Group is a leading channel to independent hearing care professionals in North America with more than 250 network members Further company coverage: [GN.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 55;)).  Full Article

GN Store Nord initiates new share buyback programme
Friday, 11 Mar 2016 

GN Store Nord A/S:Says ‍announces a new share buyback program of 1,500 million Danish crowns ($224.3 million) to be initiated on Friday and be concluded no later than March 13, 2017.Says has appointed Nordea as lead manager of the programme.  Full Article

GN Store Nord issues FY 2016 guidance, proposes to pay dividend for FY 2015
Friday, 12 Feb 2016 

GN Store Nord A/S:Says expects organic growth of 7‍​ percent in FY 2016.Says expects FY 2016 profit before tax around 1.52 billion Danish crowns‍​.Says expects FY 2016 EBITA of around 1.72 billion crowns‍​.FY 2016 pre-tax profit 1.58 billion crowns-Thomson Reuters I/B/E/S.Says to pay 0.99‍​ crowns per share as dividend for FY 2015.  Full Article

CORRECTED-Hearing aid maker William Demant trusts in hearing quality, not smart features

COPENHAGEN, Nov 9 William Demant, the world's second largest hearing aid maker, said it would continue to focus on products that provide hearing quality rather than smart features, even as it saw a decline in the number of devices sold in the third quarter.