Biomet Reports $715.2M in 4Q Net Sales, 2% IncreaseWritten by Laura Miller | July 12, 2011
Biomet reported net sales of $715.2 million during the fourth quarter of the 2011 fiscal year, which is an increase of 2 percent over the same period last year, according to a company news release.
The company's net sales in the U.S. decreased by 3 percent during the fourth quarter, while the European sales increased by 7 percent. Other international sales increased by 11 percent.
Biomet CEO Jeffrey R. Binder attributed the slow fourth quarter to the decrease in industry volume and price pressures. Additionally, the company hasn't experienced above market growth in most areas of the business, which Mr. Binder says it plans to change as quickly as possible.
Reconstructive sales were flat at $549 million while extremities sales increased by 17 percent worldwide. The growth can be attributed to the increased demand for the Comprehensive Primary, Reverse and Fracture Shoulder System. The company's spine business reported $55.4 million, a 10 percent decrease from last year.
Read the release on the financial report for Biomet (pdf).
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