Biomet Q1 Net Sales Increases

Biomet has reported an increase in net sales by 4% to $630.1m for the first quarter ended August 31,2009, compared to $607m for the same period prior year. For the quarter ended August 31,2009, operating income increased to $79.1m, compared to operating income of $57m for the first quarter of fiscal year 2009.

The company has reported a net loss of $22.8m for the first quarter, a decrease when compared to a net loss of $59.9m for the first quarter ended August 31, 2008. ast year. Jeffrey Binder, president and CEO of Biomet, said: “We began fiscal year 2010 with an encouraging quarter. I’m particularly pleased with our global sales growth of 9% for orthopedic reconstructive devices, 10% growth for knees, 23% extremity sales growth and the 17% growth rate for spine.

“Additional product categories that recorded double digit sales growth during the first quarter include craniomaxillofacial fixation, sports medicine devices and softgoods and bracing products. Further, we experienced another strong quarter of leveraged growth in adjusted EBITDA, for an increase of 11% compared to the first quarter of fiscal 2009.”

Biomet and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy. Biomet’s product portfolio includes orthopedic joint replacement devices, bone cements and accessories, autologous therapies and dental reconstructive implants; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, craniomaxillofacial implants and bone substitute materials; spinal products, including spinal stimulation devices, spinal hardware and orthobiologics.