Utah-Based Company to Donate up to $50 for Each Velocity Hearing Aid Purchase to Help Improve the Quality of Life for U.S. Service Men and Women
SALT LAKE CITY, July 2 /PRNewswire-FirstCall/ -- Sonic Innovations, Inc. (Nasdaq: SNCI) is launching a new program in cooperation with the Armed Forces Foundation. For each Sonic Innovations' Velocity hearing aid purchased, the company will donate up to $50 to the Armed Forces Foundation from now through October 1, 2008.
"As a U.S.-based company, Sonic Innovations is strongly committed to acknowledging the sacrifices our military personnel have made throughout the years," said Sonic Innovations CEO Sam Westover. "The Department of Veterans Affairs has stated that hearing damage is the number one disability in the war on terror. We know about the devastating impact hearing loss has on people, and we wanted to find a way to give back to these brave men and women. So we decided to establish a fund to support our troops through the sales of our hearing aids. Whether they need help with a hearing loss, educational expenses or emergency funds, Sonic Innovations hopes that our fund will make a difference in helping many service men and women improve their quality of life."
Sonic Innovations is the largest publicly traded U.S.-based hearing aid manufacturer. Velocity hearing aids represent the company's premium line of digital products with hands-free, universal features that allow smooth transitions as the environment changes, adaptive directionality, adaptive feedback cancellation and auto-telephone.
The Armed Forces Foundation is a Washington, D.C.-based nonprofit organization that was established in 2001 to promote the morale, welfare and quality of life of the United States Armed Forces community, including active-duty personnel, national guardsmen, reservists and retired personnel and their families. Specifically, the foundation provides direct financial support to service members and their families for everyday living expenses, housing improvements, transition and career counseling, funeral arrangements, counseling and family retreats. The foundation also pays for airline tickets and hotel bills so families can visit relatives in the armed services who have been hospitalized.
"Sonic Innovations is delighted to be able to play a role in providing much-needed donations to such a worthy and important organization as the Armed Forces Foundation," Westover said. "We worked through the Department of Defense and Walter Reed Army Medical Center in identifying a group to work with, and they both recommended this foundation as first on their lists. We also discovered in our initial discussions that 96 percent of all donations received are given back to military families. With that incredible return rate, we hope our donation will truly have an impact on many people."
ABOUT SONIC INNOVATIONS:
Sonic Innovations is a global provider of superior hearing solutions. The company is passionate about quality, technology, and improving the lives of the hearing impaired. Sonic Innovations is dedicated to its hearing-healthcare partners, and share the same passion with them in bettering the lives of their patients.
Sonic Innovations, headquartered in Salt Lake City, Utah, has international offices and manufacturing centers across the globe. Through our distribution partners, we provide hearing care services and solutions in more than 25 countries. Sonic Innovations is listed on the NASDAQ Global Market System (SNCI) and can be found online at http://www.sonici.com.
Sonic Innovations has sold more than 1,000,000 hearing instruments.
This press release may contain "forward-looking statements" as defined under securities laws. Actual results may differ materially and adversely from those described herein depending on a number of factors including, but not limited to, the following risks: we face aggressive competition in our business; acquisitions could be difficult to integrate and disrupt our current business and therefore may harm our operating results; we may not launch more product lines this year; our products may not help people hear better or more naturally; we may poorly operate newly acquired businesses; we may lose a large customer or suffer a reduction in orders from a large customer; we must have innovative, technologically superior products to compete effectively; our products, due to their complexity, may contain errors or defects that are only discovered after sales by our customers, thus harming our reputation and business; we may have issues with intellectual property; and we have important international operations, which expose us to a variety of risks including government reimbursement, that could impact sales and operating results. For additional information regarding the risks inherent in our business, please see "Factors That May Affect Future Performance" included in our Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission.
We undertake no obligation to revise our forward-looking statements to reflect events or circumstances after the date hereof as a result of new information, future events or otherwise.
|SOURCE Sonic Innovations, Inc.|
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