IBJNews

Biomet sales rise, but slower than expected

Back to TopCommentsE-mailPrintBookmark and Share

Indiana-based medical device maker Biomet Inc. said Wednesday its sales rose 2 percent in the first quarter, slower than the privately held company had expected.

Biomet's quarterly results are considered an indicator on the state of the orthopedic device industry because it reports results before most of its competitors. The largest publicly traded orthopedic device makers report their results starting next week.

Biomet said its revenue rose to $640.7 million over the three months ended Aug. 31, from $630.1 million a year ago. Excluding the effects of foreign currency exchanges, its revenue improved 3 percent.

The company said its U.S. sales rose 5 percent, to $419.1 million, while European sales fell 11 percent. Its international sales rose 11 percent. Most of Biomet's international sales are made in Canada, South America, Mexico and the Pacific Rim.

President and CEO Jeffrey Binder said its results were hurt by a decline in surgical procedures. Total revenue from sales of reconstructive products rose 3 percent, to $478.4 million, as sales of knee implants rose 4 percent and sales of extremity implants grew 25 percent. Revenue from hip implant devices was unchanged from a year ago, and dental implant sales declined 2 percent.

Biomet said revenue from fixation products slipped 3 percent, to $59.4 million, and spinal device revenue was unchanged at $57.9 million. Sports medicine revenue rose 15 percent.

Biomet said it lost $17.8 million in the quarter, down from $22.8 million a year ago.

Biomet, headquartered in Warsaw, was a publicly traded company until 2007, when it was purchased by a group of private equity firms.

Its publicly traded peers include Zimmer Holdings Inc., Stryker Corp., Wright Medical Group Inc. and Smith & Nephew Inc. Stryker is scheduled to report its third-quarter results on Tuesday, while other companies in the group will make their reports in late October and early November.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

ADVERTISEMENT