Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
NuVasive (NSDQ:NUVA), Stryker (NYSE:SYK), Wright Medical (NSDQ:WMGI) and Zimmer Holdings (NYSE:ZMH) all posted early gains today on Wall Street, as investors reacted to the better-than-expected prelims from the privately held rival.
Warsaw, Indiana-based Biomet, saying it wanted to relay the good news to its employees ahead of the holiday break, posted sales of $725.1 million for the three months ended Nov. 30, up 3.8% compared with the same period last year.
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“We’re pleased with our overall sales performance during our fiscal second quarter and we’re particularly happy to see acceleration in our year-over-year quarterly growth rates compared to the last couple of quarters in our major product categories, including knees and hips,” president & CEO Jeffrey Binder said in prepared remarks.
Growths rates were strong for most of Biomet’s divisions, with the exception of extremities. That division logged 14% growth for the quarter, compared with 16% for the company’s fiscal Q1.
The results “could suggest a stabilizing, possibly even improving, ortho procedure volume/price environment for other ortho companies as they gear up to report their December quarter,” Leerink Swann analyst Rick Wise wrote in a note to investors, providing “an encouraging datapoint for the ortho sector.”
Ortho investors on The Street responded, sending Biomet’s rivals’ shares up in early-morning trading. NUVA shares were up 3.1% to $11.41 as of about 10:10; Stryker gained 3.4%, rising to $47.33; WMGI added 14 cents to its $15.46 open for a 2.7% gain; and Zimmer was up 5.6% to $50.36.
Biomet is slated to report its final Q2 results Jan. 10 after the market’s close.
Analogic’s Q1 sales, earnings rise
Analogic (NSDQ:ALOG) grew its top and bottom lines during its fiscal first quarter.
The Peabody, Mass.-based MRI maker posted profits of $4.0 million, or 32 cents per share, on sales of $117.9 million during the three months ended Oct. 31.
That compares with profits of $2.6 million, or 20 cents per share, on sales of $103.8 million during the same period last year. Read more
Angeion’s Q4 profits, sales slip
Fourth-quarter profits and sales dipped slightly for Angeion (NSDQ:ANGN).
The St. Paul, Minn.-based cardio-respiratory evaluation firm posted profits of $391,000, or 10 cents per share, on sales of $8.4 million during the three months ended Oct. 31.
That compares with profits of $410,000, also 10 cents per share, on sales of $8.5 million during the same period last year. Read more
Cantel Medical posts double-digit Q1 increases
Sales and profits for Cantel Medical (NYSE:CMN) rose at a double-digit clip during its fiscal 1st quarter.
The Little Falls, N.J.-based firm posted profits of $6.2 million, or 35 cents per share, on sales of $93.3 million during the three months ended Oct. 31.
That compares with profits of $5.0 million, or 29 cents per share, on sales of $72.0 million during the same period last year. Read more
Cyberonics’ sales rise, earnings fall
Cyberonics (NSDQ:CYBX) raised its top line but watched profits slide during its fiscal 2nd quarter.
The Houston-based neuromodulation firm posted profits of $9.0 million, or 32 cents per share, on sales of $53.7 million during the three months ended Oct. 28.
That compares with profits of $24.9 million, or 88 cents per share, on sales of $47.5 million during the same period last year. Read more
Hamilton Thorne’s Q3 sales rise, losses expand
Hamilton Thorne (PINK:HTLZF) saw its losses widen slightly despite n 8.5% sales boost during the 3rd quarter.
The Beverly, Mass.-based laser maker posted losses of $373,000, or 1 cent per share, on sales of $1.9 million during the three months ended Sept. 30.
That compares with losses of $322,000 million, also 1 cent per share, on sales of $1.7 million during the same period last year. Read more
LED Medical doubles Q3 sales, losses gape
LED Medical Diagnostics (TSX:LMD) doubles its 3rd-quarter sales but saw its losses widen by 70%.
The Burnaby, B.C.-based imaging company posted losses of $981,000, or 3 cents per share, on sales of $535,000 during the three months ended Sept. 30.
That compares with losses of $577,000, or 2 cents per share, on sales of $261,000 during the same period last year. Read more
Mauna Kea’s Q2 sales jump
Mauna Kea Technologies (ENT:MKEA) reported a 62.2% top-line increase for the third quarter.
The Paris-based endoscope maker posted sales of $1.5 million, or €1.1 million, compared with $931,000 million, or €685,000, during the same period last year. Read more
Mazor’s Q3 sales rise, losses widen
Third-quarter sales for Mazor Robotics (PINK:MZRTF) rose 10.3% but losses widened by more than 32%.
The Caesarea, Israel-based company posted losses of $1.8 million, or 30 cents per share, on sales of $1.6 million during the three months ended Sept. 30.
That compares with losses of $1.3 million, or 7 cents per share, on sales of $1.5 million during the same period last year. Read more
FY2011 sales, profits rise for Optos
Optos (LON:OPTS) .
The London-based ophthalmology firm posted profits of $23 million, or 32 cents per share, on sales of $143 million during the fiscal year ended Sept. 30.
That compares with profits of $14 million, or 20 cents per share, on sales of $106 million during fiscal 2010. Read more
Retractable Technologies’ Q3 sales, earnings slide
Third-quarter sales and earnings dropped for Retractable Technologies (NYSE:RVP).
The Little Elm, Texas-based retractable syringe maker posted profits of $1.5 million, or 6 cents per share, on sales of $8.3 million during the three months ended Sept. 30.
That compares with profits of $7.9 million, or 29 cents per share, on sales of $12.2 million during the same period last year. Read more
Sectra’s Q2 sales slip, earnings soar on MicroDose sale
Second-quarter sales might have been off by 11.2% for Sectra (OMX:SECTB), but it still managed to post a 9,720% bottom-line increase thanks to the sale of its MicroDose mammography device.
The Linköping, Sweden-based firm posted profits of $7.6 million, or SEK 49.1 million, on sales of $33.9 million (SEK 219.2 million) during the three months ended Oct. 31.
That compares with profits of $800,000, or SEK 500,000, on sales of $38.2 million (SEK 246.9 million) during the same period last year. Read more
SeraCare’s Q4 sales, earnings slide
Fourth-quarter sales and earnings fell for SeraCare Life Sciences (NSDQ:SRLS).
The Milford, Mass.-based company posted profits of $2.7 million, or 14 cents per share, on sales of $43.5 million during the three months ended Sept. 30.
That compares with profits of $6.7 million, or 35 cents per share, on sales of $50.4 million during the same period last year. Read more
Sirona’s FY2011 sales rise, earnings fall
Sirona Dental Systems (NSDQ:SIRO) posted a nearly 20% top-line increase but still saw profits plunge by more than 62%.
The Long Island City, N.Y.-based company posted profits of $14.1 million, or 24 cents per share, on sales of $218.8 million during the year ended Sept. 30.
That compares with profits of $37.0 million, or 63 cents per share, on sales of $182.9 million during FY2010. Read more
Solos Endoscopy turns to Q3 black
Solos Endoscopy (OTC:SOLOS) posted a profit during its 3rd quarter, swinging from year-ago losses on forgiven debt and lower operating costs despite lower sales.
The Boston-based company posted profits of $74,000 on sales of $83,000 million during the three months ended Sept. 30.
That compares with losses of $234,000 on sales of $127,000 during the same period last year. Read more
Synergetics touts “record” Q1
Synergetics (NSDQ:SURG) touted “record” results for its fiscal 1st quarter.
The O’Fallon, Mo.-based firm posted profits of $771,000, or 3 cents per share, on sales of $13.5 million during the three months ended Oct. 31.
That compares with profits of $633,000, also 3 cents per share, on sales of $12.1 million during the same period last year. Read more
Q4 sales, earnings jump for Synovis
First-quarter sales and earnings jumped for Synovis (NSDQ:SYNO), which is slated for a $325 million buyout by Baxter International (NYSE:BAX).
The St. Paul, Minn.-based company posted profits of $2.7 million, or 24 cents per share, on sales of $22.1 million during the three months ended Oct. 31.
That compares with profits of $1.5 million, or 13 cents per share, on sales of $18.1 million during the same period last year. Read more
World Heart’s Q3 sales plummet, losses double
World Heart Corp.’s (NSDQ:WHRT) revenues fell into negative territory during the 3rd quarter as losses more than doubled.
The Salt Lake City-based firm posted losses of $7.0 million, or 26 cents per share, on sales of -$21,000 during the three months ended Sept. 30.
That compares with losses of $3.3 million, or 22 cents per share, on sales of $724,000 during the same period last year. Read more
