IntriCon Partners with Dynamic Hearing
July 29 2008 - 2:15PM
Business Wire
IntriCon Corporation (NASDAQ: IIN), a designer, developer,
manufacturer and distributor of body-worn medical and electronics
devices, today announced that it has entered into a strategic
alliance with Australia-based Dynamic Hearing, a designer of
proprietary digital signal processing (DSP) firmware used in
ultra-low power (ULP) DSP hardware platforms for the hearing health
and professional audio markets. IntriCon intends to use the license
from Dynamic Hearing to develop new body-worn ULP-DSP applications.
�Our alliance with Dynamic Hearing is another step forward in our
strategy to expand IntriCon�s hearing health and professional audio
product portfolio,� said Mark S. Gorder, president and chief
executive officer of IntriCon. �The agreement with Dynamic Hearing
provides us with access to the technology and engineering expertise
to develop new body-worn DSP and wireless-based products. As a
result, we believe we will be even better equipped to meet
customers� growing needs, and enhance the mobility and
effectiveness of our devices.� The five-year agreement provides
IntriCon an optional exclusive license for hearing aid products,
subject to certain limitations. Said Elaine Saunders, Dynamic
Hearing chief executive officer, �We are excited to join forces
with IntriCon�a leader in body-worn devices. Our advanced DSP
solutions will enable IntriCon to efficiently develop advanced new
products for its customers. We look forward to a long-term
relationship.� About Dynamic Hearing Dynamic Hearing Pty Ltd,
headquartered in Melbourne, Australia, provides advanced digital
signal processing solutions for personal communication devices as
embedded software. All technology developed by Dynamic Hearing is
designed to enhance the experience of sound for listeners in any
environment, providing them with greater mobility and improved
lifestyle. The company is focused on rapid product development,
scientific validation and sound commercial partnership. For more
information, visit www.dynamichearing.com.au. About IntriCon
Corporation Headquartered in Arden Hills, Minn., IntriCon
Corporation designs, develops and manufactures miniature and
micro-miniature body-worn medical and electronics products. The
company is focused on three key markets: medical, hearing health,
and professional audio and communications. IntriCon has facilities
in the United States, Asia and Europe. The company�s common stock
trades under the symbol �IIN� on the NASDAQ Stock Market. For more
information about IntriCon, visit www.intricon.com. Forward-Looking
Statements Statements made in this release and in IntriCon�s other
public filings and releases that are not historical facts or that
include forward-looking terminology such as �may�, �will�,
�believe�, �expect�, �should�, �optimistic� or �continue� or the
negative thereof or other variations thereon are �forward-looking
statements� within the meaning of the Securities Exchange Act of
1934 as amended. These forward-looking statements include, without
limitation, statements concerning IntriCon's and Dynamic Hearing's
technology, prospects in the miniature body-worn device arena,
future growth and expansion, future financial condition and
performance, prospects and the positioning of IntriCon to compete
in chosen markets. These forward-looking statements may be affected
by known and unknown risks, uncertainties and other factors that
are beyond IntriCon�s control, and may cause IntriCon�s actual
results, performance or achievements to differ materially from the
results, performance and achievements expressed or implied in the
forward-looking statements. These risks, uncertainties and factors
include, without limitation, possible non-performance of new and
developing technology, risks related to the Tibbetts acquisition,
including unanticipated liabilities and expenses, the risk that
IntriCon may not be able to achieve its long-term strategy,
weakening demand for products of the company due to general
economic conditions, the volume and timing of orders received by
the company, changes in the mix of products sold, competitive
pricing pressures, availability of electronic components for the
company�s products, ability to create and market products in a
timely manner, competition by competitors with more resources than
the company, foreign currency risks arising from the company�s
foreign operations and other risks detailed from time to time in
the company�s filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the year ended
December 31, 2007. The company disclaims any intent or obligation
to publicly update or revise any forward-looking statements,
regardless of whether new information becomes available, future
developments occur or otherwise.
Intricon (NASDAQ:IIN)
Historical Stock Chart
From Apr 2024 to May 2024
Intricon (NASDAQ:IIN)
Historical Stock Chart
From May 2023 to May 2024