Biomet said yesterday that it put black ink back into its books for the fiscal 4th quarter and 2014, with adjusted profits rising by double digits.
The Warsaw, Ind.-based orthopedics giant posted profits of $66.7 million on sales of $844.5 million for the 3 months ended May 31, for a top-line gain of 7.7%. Biomet reported losses of -$221.2 million during the same period last year.
For the full fiscal year, Biomet logged profits of $36.8 million on sales of $3.22 billion, for top-line growth of 5.6%. Biomet reported losses of -$623.4 million during fiscal 2013.
Adjusted to exclude 1-time items, 4th-quarter profits were up 19.1% to $117.6 million; full-year adjusted profits were $420.1 million, up 23.3%, Biomet said.
Sales of Biomet’s knee replacement implants rose 5.1% to $252.4 million during the 4th quarter, compared with Q4 2013. Hip sales were up 3.5% to $168.9 million for the quarter. Sports, extremities & trauma sales rose to $168.7 million, a 5.9% gain, while spine, bone healing & microfixation sales were up 27.1% to $124.3 million for the quarter.
Full-year knee sales were $995.7 million, a 5.9% gain; hip sales growth was 2.6%, to $649.2 million. S.E.T. sales were $647.5 million during fiscal 2014; S.B.H.M. sales were $446.7 million, up 9.3% for the year.