Sonic Innovations Establishes Donation Fund for the Armed Forces Foundation
02 Julio 2008 - 7:25AM
PR Newswire (US)
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. DATASOURCE: Sonic
Innovations, Inc. CONTACT: Therese Clay of XO Marketing,
+1-801-272-8686, , for Sonic Innovations, Inc. Web site:
http://www.sonici.com/
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