Biomet said it posted black ink during the 4th quarter and cut its losses for fiscal 2013, reporting a 1.0 % decline in large joint reconstruction sales.
The privately held medical device company, which is said to be considering an IPO or sale, is closely watched as a bellwether for the orthopedic market, which has been bedeviled in recent years by falling procedure volumes for hip and knee replacements.
The French device maker posted year-end losses of $9.7 million, or 55¢ per diluted share, on sales of $33.7 million. That compares with 2011 losses of $1.3 million, or 10¢ per diluted share, on sales of $31.2 million.
Edap (NSDQ:EDAP) said the FDA accepted its pre-market approval application for its Ablatherm ultrasound prostate cancer treatment, backed by data from its Enlight investigational device exemption study.
The Vaulx-en-Velin, France-based medical device company also reported that its losses increased by a whopping 646% during the 2012, on an 8% sales increase.
The West Chester, Ohio-based medical device company posted losses of $2.0 million, or 12¢ per share, on sales of $18.4 million for the 3 months ended Dec. 31, 2012, for top-line growth of 9.6% and a loss reduction of 2.9%.