The bionic ear maker sold more than 10,800 of its cochlear implants - devices that enable deaf people to hear - in 2004/05.

But chief executive Chris Roberts estimates Cochlear will sell more than 20,000 implants in the current financial year, which will be the first full year since it bought Sweden-based Entific Medical Systems, a company that makes another type of implant known as Baha.

The Baha devices are screwed into the patient's skull, allowing the sound vibrations to be transmitted through the bone, and are designed for the hearing impaired or people who are deaf in only one ear.

"Over 20,000 patients are going to receive an implant from us this year, whether it's a cochlear implant or a Baha," Dr Roberts told shareholders at Cochlear's annual general meeting in Sydney.

At present, more than 95 per cent of patients elect to have an implant in one ear only, and 30 to 40 per cent of recipients are under the age of five, he said.

But research by Citigroup analyst Andrew Goodsall suggests 50 per cent of infant recipients could get two implants by 2008.

Dr Roberts said this was a view shared by Cochlear's surgeons advisory board.

"I don't think that's a step change for the outlook for the company," Dr Roberts told the meeting.

"But that does reduce the risk to our ongoing growth."

He reiterated Cochlear's guidance that core earnings will lift by 20 per cent to about $70 million in 2005/06, which will be the first full year for inclusion of the Baha products as well as the new version of the cochlear implant, called Nucleus Freedom.

Dr Roberts said Cochlear would continue to focus on growing by expanding its product offerings for the hearing impaired, indicating that acquisition opportunities were likely to be scarce.

Cochlear is currently also researching the potential for a technique of electronic stimulation in a joint venture with Switzerland's Phonak, though Dr Roberts did not expect any products to go to market for another three to five years.

Source: http://www.theage.com.au/news/Business/Cochlear-reiterates-earnings-target/2005/10/20/1129775886238.html