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

  • Dollar Tree buying rival Family Dollar
    Dollar store chains are duking it out.Dollar Tree Inc. said Monday that it is buying rival Family Dollar Stores Inc. for $8.
  • Earnings off at Franklin Electric Co.
    Franklin Electric Co. on Monday reported second-quarter earnings of $27.1 million, or 55 cents per diluted share, a 4 percent decline from the $28.
  • Profits drop no growth barrier
    Old National Bancorp is continuing its acquisition spree even as it reports second-quarter profit that was one-third less than last year’s comparable period.
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