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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

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