You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Stockings full of bargains
    Even though it’s still summer and Christmas is more than three months away, retailers – worried by dismal second-quarter earnings and desperate to attract shoppers – are gearing up for a holiday season ­expected to
  • Avon quitstrade groupover bylaws
    Avon Products is leaving the trade association it helped found more than a century ago, writing in a letter to other member companies this month that the group’s bylaws might not adequately protect consumers from fraud.
  • week ahead
    Today• National Association of Realtors reports existing home sales for AugustWednesday• Commerce Department reports new home sales in AugustThursday• Labor Department reports
Advertisement

Biomet releases earnings

Biomet Inc. today reported preliminary fourth-quarter and full-year earnings for fiscal 2014, reflecting the Warsaw-based orthopedics company’s most profitable performance in years.

Biomet reported annual earnings of $36.8 million on sales of $3.22 billion, a $660 million improvement from fiscal 2013’s $623 million net loss on consolidated net sales of $3.05 billion.

Excluding special items, the company earned $420 million for the year, which ended May 31.

Biomet also reported fourth fiscal quarter earnings of $66.7 million on sales of $845 million, a $288 million improvement from the same period of the prior year, when the company posted a $221 million loss on sales of $784 million.

Zimmer Inc. in April offered to acquire Biomet for $13.35 billion. The deal is on hold, however, while the Federal Trade Commission considers the implications of allowing the competitors to merge.

sslater@jg.net

Advertisement