Biomet has reported a net loss of $749.2 million for fiscal year 2009, as compared to $1 billion for fiscal year 2008.
The company has reported a net loss of $170.9 million for the fourth quarter of 2009, as compared to a net loss of $91.5 million for the corresponding period in the prior fiscal year.
The company has reported an increase in net sales of 1% to 639.3 million during the fourth quarter, as compared to net sales of $635.6 million during the fourth quarter last year.
The company has reported an increase in net sales by 5% to $2.504 billion for the twelve months ended May 31, 2009, as compared to $2.383 billion in the prior fiscal year.
The company said that on a constant currency basis, net sales increased 7% during the fourth quarter. Domestic sales increased 9% to $392 million, while sales outside the US decreased 11% (+5% constant currency) to $247.3 million during the fourth quarter.
The company has reported that on a constant currency basis, net sales increased 8% worldwide. Sales in the US increased 10% during fiscal year 2009, while sales outside of the US decreased 1% (+6% constant currency).
Operating loss for the fourth quarter was $107.2 million, compared to operating income of $44.8 million for the fourth quarter of the prior fiscal year. The company has reported an operating loss $348.3 million for fiscal year 2009, as compared to $750.5 million for fiscal year 2008.
Jeffrey Binder, president and CEO of Biomet, said: “I’m extremely pleased with the Biomet team’s overall performance during both the fourth quarter and our full fiscal year 2009. Our sports medicine, craniomaxillofacial fixation and biologics divisions each recorded double-digit sales growth during fiscal 2009, as well, while our spine business continued to gain momentum each quarter throughout the year, reaching double-digit sales growth during the fourth quarter.
“In addition to our strong sales driven by new products and good sales execution, we made significant progress with our value creation program and maintained good discipline in operational expense management, providing additional opportunities to increase the bottom line, he added.