Tuesday March 18 9:41 AM EDT
Biomet announces third quarter and nine month results
WARSAW, Ind.--(BUSINESS WIRE)--March 18, 1997-- Biomet Inc today reported record sales and earnings for its third
quarter and nine months ended February 28, 1997.
($000's Except Per Share Data)
Third Quarter Ended February 28:
1997 1996 Percent Change
Net sales $146,164 $133,469 10 %
Gross profit 99,305 89,596 11
Operating income 41,067 35,393 16
Net income 27,279 23,493 16
Earnings per share .24 .20 20
U.S. sales $106,007 $ 99,408 7 %
Foreign sales 40,158 34,061 18
Reconstructive sales $ 87,203 $ 80,997 8 %
EBI sales 29,013 27,522 5
Other products 29,948 24,950 20
Nine Months Ended February 28:
1997 1996 Percent Change
Net sales $427,351 $393,742 9 %
Gross profit 289,659 265,040 9
Operating income 116,852 99,290 18
Net income 77,551 66,977 16
Earnings per share .68 .58 17
U.S. sales $314,406 $295,475 6 %
Foreign sales 112,946 98,267 15
Reconstructive sales $257,488 $238,071 8 %
EBI sales 85,320 81,010 5
Other products 84,543 74,661 13
Increases in sales and earnings for the third quarter of fiscal year 1997 as compared to the same period in fiscal year 1996
were principally attributable to the continued market penetration of the Company's primary and revision reconstructive
devices in both the international and domestic markets. The Company's Maxim Total Knee and Alliance Hip Systems
continued to capture market share in the domestic reconstructive market. In addition the Company is experiencing robust
growth in the internal fixation market. EBI's growth was driven by increased sales of bone healing products.
Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by orthopedic medical specialist in
both surgical and non-surgical therapy, including reconstructive and trauma devices, electrical bone growth stimulators,
orthopedic support devices, operating room supplies, powered surgical instruments, general surgical instruments,
arthroscopy products and craniomaxillofacial implants and instruments. Headquartered in Warsaw, Indiana, Biomet and its
subsidiaries currently distribute products in approximately 100 countries.
For further information contact Kathy Waggener, Manager, Corporate Communications at (219) 267-6639.
BIOMET, INC. - - QUARTER RESULTS
FOR THE PERIODS ENDED FEBRUARY 28, 1997
(in thousands)
Three Months Nine Months
Amount Amount
Net Sales $146,164 $427,351
Cost of Sales 46,859 137,692
__________ __________
Gross Profit 99,305 289,659
S,G, & A 52,910 154,900
R & D 5,328 17,907
__________ __________
Total S,G & A 58,238 172,807
__________ __________
Operating Income 41,067 116,852
Other Income 2,354 6,858
__________ __________
Income Before 43,421 123,710
Taxes
Provision for
Taxes 16,142 46,159
__________ __________
Net Income 27,279 77,551
__________ __________
__________ __________
EPS .24 .68
CONTACT: Biomet, Inc., Warsaw
Kathy Waggener, Manager, Corporate Communications
219/267-6639
|
