Biomet Q3 net loss widens to $478.7m

Biomet, a designer, manufacturer and marketer of products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy, has reported a net loss of $478.7m for the third quarter ended February 28, 2009, compared to a net loss of $88.5m for the third quarter ended February 29, 2008.

The company reported net sales of $615m for the three months ended February 28, 2009, an increase of 2%, compared to $603.1m for the three months ended February 29, 2008.

For the nine months ended February 28, 2009, the company reported a net loss of $578.3m, compared to a net loss, as reported, of $927.3m for the nine months ended February 29, 2008. The company reported net sales of $1.86 billion for the nine months ended February 28, 2009, compared to $1.49 billion for the period from July 12, 2007 to February 29, 2008.

Jeffrey Binder, Biomet’s president and CEO, said: While the impact of the general economy on our dental implant business is resulting in a write-down of goodwill and intangible assets associated with the merger, I have confidence in the long-term attractiveness of the dental reconstructive market and Biomet 3i’s competitiveness in that market.