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Biomet quarterly earnings improve by $70 million

Biomet Inc. today reported second fiscal quarter earnings of $4.9 million, an improvement of more than $70 million compared to a loss of $66.2 million during the prior year’s second fiscal quarter.

The Warsaw-based orthopedic supplies manufacturer recorded $122 million in special items for the quarter ended Nov. 30. Without those expenses, earnings would have been $127 million.

Biomet also posted consolidated net sales of $826 million for the quarter, a 5 percent increase from net sales of $790 million for the same period of 2012.

Jeffrey Binder, president and CEO, said in a statement that that the sales growth was strong across multiple products and geographic regions.

sslater@jg.net

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