Biomet released its third-quarter numbers Tuesday and the orthopedic giant showed larger losses as compared to the third quarter of 2011.
Biomet had sales of $708.9 million in the third quarter with losses of $16.5 million.
Sales were up compared to 2011 when the company saw $678 million in sales and $11.6 million in losses.
The company’s net income for this year’s third quarter was $55.1 million as compared to $212.8 million in the 2011 third quarter.
“We reported strong and improving sales results across many of our product categories this quarter, with particularly good momentum in our large joint reconstructive and (sports, extremities & trauma) product categories,” President and CEO Jeffrey Binder said in a press release. “I was particularly happy with the consistency of our performance across all geographies. In addition, we are very excited about our future opportunities in the trauma market given our pending acquisition of DePuy’s worldwide trauma business.”
Biomet and DePuy announced April 3 Biomet was purchasing DePuy’s trauma unit for $280 million.
