Biomet Earnings Rise
Biomet Inc., an orthopedic medical specialist, reported on Wednesday an increase of 5 percent in its net sales for its first quarter which ended August 31.
The maker of reconstructive medical products said its operating income increased by 2 percent. Net income increased 2.5 percent to $102,830,000 from $100,299,000 and rose by 6 percent on an adjusted basis to $106,815,000.
Biomet's reported earnings per share for the first quarter of fiscal yar 2007 were up 5 percent to $0.42 from $0.40.
"The Company's record first quarter results are attributable to continued strong sales of orthopedic reconstructive devices and dental reconstructive implants,' said Interim President and Chief Executive Officer Daniel P. Hann.
According to Biomet, the impact of foreign currency caused sales to rise by $3 million and net sales increased 4 percent. First quarter sales in the United States increased 3 percent, while international sales increased 7 percent on a constant currency basis.
Biomet has been designing and manufacturing products used primarily both surgical and non-surgical therapy for over 25 years and distributes its products to more than 100 countries worldwide.
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