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.
Biomet amended its Q4 and annual earnings report to reflect a swing to red in Q4 and much deeper losses for the full year compared to earlier reports.
The Warsaw, Ind.-based orthopedics company posted losses of $221.2 million on $784 million in sales during the 3-month period ended May 31, 2013. An initial earnings report released in July had reported a $20.5 million profit for the quarter.
Fridley, Minn.-based Medtronic posted profits of $953 million, or 93¢ per share, on sales of $4.08 billion for the 3 months ended July 26. That’s a 10.3% top-line gain on 1.9% sales growth.
Operating profits rose 13.1% during the 2nd quarter for Kinetic Concepts Inc., despite a nearly 4% sales decline for the wound management company.
San Antonio, Texas-based KCI reported operating profits of $110.8 million on sales of $317.8 million for the 3 months ended June 30, according to a regulatory filing.