Biomet reported a 4 percent increase in net sales during the first quarter of the fiscal year 2012 to $664.6 million, according to a Biomet news release.
The company's net sales in the United States decreased by 1 percent to $414 million in the first quarter, which was offset by an 8 percent increase in the European market. Additional international net sales increased by 20 percent. Biomet President and CEO Jeffrey Binder attributes the company's growth to new hip product launches and hopes to carry the same tactic to the knee market later this year.
For the first quarter, hip sales experienced a 7 percent growth worldwide, while the knee business only showed a 2 percent growth. The company's sports medicine and extremities markets grew 12 percent and 19 percent respectively.
However, the company's spine sales decreased by 10 percent worldwide.
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For the first quarter, hip sales experienced a 7 percent growth worldwide, while the knee business only showed a 2 percent growth. The company's sports medicine and extremities markets grew 12 percent and 19 percent respectively.
However, the company's spine sales decreased by 10 percent worldwide.
Related Articles on Orthopedic Device Companies:
Orthofix Promotes Bryan McMillan to President of Spine Global Business Unit
K2M Announces Two New Cervical Spine Devices
Zimmer Sponsors 2011 Zimmer Winter National Senior Games