May 10, 2020 / 11:58 PM / a month ago

BRIEF-Cochlear Updates On Confirmation Of Covid-19 Pandemic Impact On Trading

May 11 (Reuters) - Cochlear Ltd:

* COCHLEAR LTD- CONFIRMATION OF COVID-19 PANDEMIC IMPACT ON TRADING

* COCHLEAR - SALES REVENUE ACROSS BUSINESS DECLINED BY ABOUT 60% IN APRIL COMPARED TO APRIL 2019

* COCHLEAR - IN CHINA, SURGERIES RECOMMENCED IN LATE FEB & CONTINUED TO RECOVER THROUGHOUT APRIL

* COCHLEAR- SERVICES BUSINESS ALSO IMPACTED WITH APRIL SALES DECLINING BY ABOUT 30%

* COCHLEAR - REDUCED NON-ESSENTIAL SPENDING & CAPEX UNTIL THERE IS SUSTAINED INCREASE IN SURGERIES

* COCHLEAR - EXPECTING GRADUAL RECOVERY WITH EXPECTATIONS THAT HOSPITALS WILL PROCEED CAUTIOUSLY WITH RESUMPTION OF ELECTIVE SURGERY

* COCHLEAR- SUPPLY CHAIN CONTINUES TO BE LARGELY INTACT WITH NO SUPPLY SHORTAGES EXPECTED FOR COMPONENTS OVER COMING MONTHS Source text for Eikon: Further company coverage:

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