Additionally, the company reported fiscal year operating income as $357 million, an adjusted operating income increase of 7 percent to $1 billion, an increase in cash from operations by 32 percent, and a free cash flow improvement to $135 million for the fiscal year.
Biomet reported a net loss of $14.5 million during the 2010 fiscal year as compared to a net loss of $170.9 million during the previous fiscal year.
Special items before tax were recorded as $132 million during the fourth quarter of the 2010 fiscal year and include $93.5 million of non-cash amortization and depreciation expense related to the merger. The further cost is primarily related to the $15.9 million associated with operational improvement initiatives and stock compensation expense.
Read the news release on Biomet financial results.
Read other coverage on Biomet:
– Biomet 3Q 2010 Net Sales Up 9%, Driven By Sales Growth for Orthopedic Devices
– Biomet Announces 8% Increase in Net Sales for FY2010 Q2
– Biomet Sales Yield $630M for Quarter
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