Biomet’s net sales increased 9 percent to $669.8 million during the quarter from $615.0 million during the third quarter of fiscal year 2009, and U.S. sales increased 6 percent during the third quarter to $412.6 million.
These increases were driven by increased demand for orthopedic products in both domestic and international markets. Global hip sales increased 4 percent for the quarter and 3 percent in the U.S. Global extremity sales jumped 27 percent and 45 percent in the U.S., while spine sales increased 4 percent worldwide and 3 percent in the U.S.
Biomet’s President and CEO Jeffrey R. Binder said in the release, “Strong market demand for Biomet’s orthopedic reconstructive products continued to drive the company’s sales growth during the third quarter, most notably in our knee and extremity product categories. On a constant currency basis, knee sales increased 13 percent worldwide, while global extremity sales grew 27 percent. Additionally, we recorded very strong sales growth from our international division, as we continued to successfully penetrate key markets during the quarter.”
Biomet reported operating income totaled $100.1 million and a net loss of $3.1 million for the quarter, driven largely by decreased or flat sales for its non-orthopedic products. This is an improvement over a year ago, when the company experienced an operating loss of $378.1 million and a net loss of $478.1 million for the quarter due to an impairment charge related to the goodwill and intangibles associated with our dental reconstructive business, according to the release.
Read the release on Biomet earnings.
