Sorin Group (BIT:SRN) managed to raise its bottom line despite flat sales for 2011 by raising its gross margin via restructuring, posting a profit increase of 48.3% for the year.
The Milanese cardiovascular device maker reported profits of $75.2 million (~€58.0 million) on sales of $963.4 million (~€743.4 million), compared with profits of $50.7 million (~€39.1 million) on sales of $966.5 million (~€745.8 million) during 2010.
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Australian-based Cochlear Ltd. (ASX:COH), the world’s biggest maker of bionic ears, saw stocks drop by nearly 20 percent after a voluntary recall of its popular titanium hearing implants.
Cochlear recalled its Nucleus CI500 range of implants from shelves after an unexplained increase in failures in its CI512 implant model.