GN Store Nord earnings below forecast on weak headset division
GN Store Nord reported first-quarter core profit a touch below forecasts on Wednesday and its shares fell as its headset division disappointed despite a strong performance by the larger hearing aid segment. The Danish company said earnings before interest, taxation and amortization rose to 291 million Danish crowns ($43 million) from 253 million crowns a year earlier, below an average estimate of 303 million crowns in a Reuters poll. “The hearing aid division is performing really well, with new product launches helping from March and the lift in earnings. “But the headset division is struggling with weak markets, just as we saw with main competitor, Plantronics,” he said.