Being financially successful and socially and environmentally responsible doesn't have to be mutually exclusive.

In fact, one local company is being recommended by a national mutual fund as just one such company.

Citizens Trust Inc., of Portsmouth, N.H., is a mutual fund management company that actively seeks funds that have a strong bottom line and a big social and environmental heart.

"We're one of the first socially responsible funds available to investors," said Joe Keefe, executive vice president of Citizen Trust. "We believe that the best way to earn money for our shareholders is by investing in companies that have had records of both strong financial performance and corporate responsibility."

Keefe said that the no-load mutual fund, begun in 1982, takes a "double-bottom line" approach to investing. The financial attractiveness of a company is just half the equation. Recommended companies must also operate their businesses with a high level of corporate responsibility. The social screens Citizens Trust uses to evaluate companies include their record in the area of environmental stewardship, equal opportunity, human rights, production of alcohol, tobacco and weapons and animal testing.

This is the first we've heard of the fund," said Greg Sasso, Biomet's vice president for corporate development and communications. "But it's a good thing to see us being eligible for a fund of this type."

"We first analyze a company financially, then if they pass that side of the equation, we apply the social responsibility criteria," Keefe said.

Biomet passes both criteria with flying colors, he said.

"Biomet is one of the leading companies in the orthopedics industry," Keefe said. "They also have progressive employee policies and are very involved in the community. They impressed us first on a financial basis, then they impressed us on a qualitative basis."

It is that qualitative side of the business that has been uppermost in the minds of the Biomet founders as well, Sasso said.

"This is something that (president) Dane Miller and I, and the rest of the founders, wanted to have - a place where the team members are happy to be working, and also one that is involved in the community," he said. "We're thrilled to be included on their list."

One of the key factors on the social side of the equation is Biomet's community involvement and support for local charities. Keefe said that Biomet contributed $2.5 million to area charities in 1996 and $5 million in both cash donation and in-kind contributions in 1995.

From the financial perspective, Biomet had sales of $651.4 million and a net income of $124.7 million in 1998, a 12 percent increase over the $535.3 million in 1997 sales. Net income for 1998 was $124.7 million, a 14 percent increase over the $106.5 million in 1997. Earning per share increased from 94 cents per share in 1997 to $1.12 per share in 1998.

Citizens Funds have out-performed the Standard & Poor 500 index the past three years, according to Keefe, by an average of 3.5 percent over that time period

For more information on Citizens Funds, call 800-223-7010, or visit their website at www.citizensfunds.com. [[In-content Ad]]