Biomet Inc.’s first-quarter losses widened significantly despite nearly 4 percent top-line growth during the three months ended August 31.
The privately owned orthopedics giant posted losses of $39 million on sales of $665 million during the quarter, up 120.2 percent and 3.7 percent, respectively, over Q1 2011.
“We executed well with our new product launches in hips during the quarter and we’re pleased with the improved sales results. We expect to see similar improvements in our knee performance later this year and into next year as we launch several meaningful new products in the second half," president & CEO Jeffrey Binder said in prepared remarks. "We were pleased to post 8 percent worldwide constant currency growth in a product category that delivered more than $300 million in sales during fiscal 2011, despite an uncharacteristically soft domestic quarter in our sports medicine business. We were also pleased with the 9 percent constant currency sales growth in our International business during the quarter."
Biomet was rumored to be in the running over the summer for Smith & Nephew (NYSE:SNN), along with rival Stryker Corp. (NYSE:SYK). A Smith & Nephew spokesman declined to comment on the rumor in August.
“We just don’t comment on this sort of market rumor,” Smith & Nephew spokesman Phil Cowdy told MassDevice. “It’s a perennial thing and we just stick to our policy of not commenting.”
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Analogic’s Q4 profits slide nearly 20%
Fourth-quarter profits for Analogic Corp. (NSDQ:ALOG) slid nearly 20 percent during the three months ended July 31, but the imaging pioneer still managed to post double-digit fiscal 2011 sales and earnings growth.
The Peabody, Mass.-based imaging pioneer reported net income of $5.6 million, or 45 cents per diluted share, on sales of $135.3 million for the quarter. That compares with income of $7.1 million, or 56 cents diluted EPS, on sales of $115.0 million during Q4 2010.
For the full year, Analogic logged profits of $17.8 million, or $1.42 diluted EPS, on sales of $473.6 million. That compares with profits of $15.6 million, or $1.23 diluted EPS, on sales of $414.8 million during fiscal 2010. Read more
That compares with losses of $4.0 million, or 18 cents EPS, on sales of $726,000. Read more
DGT reported net income of $77,000, or 2 cents diluted EPS, on sales of $14.9 million during the three months ended July 30. That compares with profits of $1.2 million, or 66 cents diluted EPS, on sales of $13.4 million during Q4 2010.
For the full year, the company posted net income of $1.1 million, or 37 cents diluted EPS, on sales of $67.9 million. That compares with a net loss of $812,000, or 45 cents diluted EPS, on sales of $56.2 million during FY2010. Read more
Dynatronics’ Q4 profits dip, FY2011 profits plunge
Dynatronics Corp.’s (NSDQ:DYNT) fourth-quarter sales rose by as much as its profits declined, but its full-year results showed flat sales and a more than 36 percent drop in profits.
The company reported fourth-quarter income of $69,000, or 1 cent diluted EPS, on sales of $8.2 million for the three months ended June 30. That compares with profits of $71,000, also 1 cent diluted EPS, on sales of $7.9 million during Q4 2010.
For the full year Dynatronics logged profits of $271,000, or 2 cents diluted EPS, on sales of $32.7 million. That compares with profits of $424,000, or 3 cents diluted EPS, on sales of $33.0 million in FY2010. Read more
The company reported losses of $3.5 million, or 50 cents diluted EPS, on sales of $14.4 million for the 12 months ending June 30. That compares with losses of $2.9 million, or 41 cents diluted EPS, on sales of $13.4 million during FY2010. Read more