Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Zimmer Biomet Holdings Inc    ZBH

News SummaryMost relevantAll newsSector newsTweets

Biomet 3Q Loss Widens On Charges; Sales Grow 5%

share with twitter share with LinkedIn share with facebook
share via e-mail
04/11/2012 | 04:51pm CEST

("Biomet 3Q Loss Widens On Charges; Sales Grow 5%," at 7:03 a.m. EDT, misstated the hip sales increase in the sixth paragraph. The correct version follows:)

Biomet Inc.'s fiscal third-quarter loss widened on merger-related costs as strong sales for sports medicine, extremities and trauma helped drive the orthopedic medical-device maker's top-line growth.

Though privately held, Biomet's results are closely watched because the company reports earlier than larger competitors--such as Zimmer Holdings Inc. (>> Zimmer Holdings, Inc.), Stryker Corp. (SYK) and Johnson & Johnson (>> Johnson & Johnson)--and could foreshadow industry trends.

Biomet has seen its losses widen in recent quarters, weighed down by charges related to its $11.4 billion buyout in 2007 by a private-equity consortium including affiliates from The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG. Sales have also been weak as patients, worried about out-of-pocket costs or long absences from work to recover, opt to defer hip and knee-replacement procedures. Biomet has said it is unclear when demand will come back.

For the quarter ended Feb. 29, Biomet reported a loss of $16.5 million, compared with a loss of $11.6 million a year earlier. Excluding merger and other special items, adjusted earnings fell to $55.1 million from $63.8 million. Sales jumped 4.5% to $708.9 million.

Gross margin slipped to 69% from 69.3%.

The company, which distributes products in about 90 countries, said worldwide hip sales increased 6%, while worldwide knee sales grew 4%. Sales for sports medicine, extremities and trauma were up 16%, while the spine and bone healing segment saw a 5% drop.

U.S. sales grew 5% while Europe sales rose 2.1%. International sales, which include Canada, South America, Mexico and the Asia-Pacific region, jumped 7.2%.

Last week, Biomet made a binding offer to acquire the global trauma business of Johnson & Johnson's DePuy Orthopaedics Inc. for about $280 million in cash, a deal the company said would greatly expand its sports, extremities and trauma business. Biomet also recently agreed to pay $23 million in penalties to settle U.S. allegations that it bribed doctors in Brazil, China and other countries over a period of years.

--By Anne Pallivathuckal and Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stocks mentioned in the article : Zimmer Holdings, Inc., Johnson & Johnson
share with twitter share with LinkedIn share with facebook
share via e-mail
08/16 ZIMMER BIOMET : Telos Partners, LLC Welcomes Cassandra Latimer to Oversee Scienc..
08/08 ZIMMER BIOMET : Management's Discussion and Analysis of Financial Condition and ..
08/07 ZIMMER BIOMET : Announces Quarterly Dividend for Third Quarter of 2017
07/27 ZIMMER BIOMET : misses 2Q profit forecasts
07/27 ZIMMER BIOMET HOLDINGS, INC. (NYSE : ZBH) Files An 8-K Results of Operations and..
07/27 ZIMMER BIOMET HOLDINGS, INC. : Results of Operations and Financial Condition, Fi..
07/27 ZIMMER BIOMET : Reports Second Quarter 2017 Financial Results
07/27 ZIMMER BIOMET HOLDINGS INC : Investor Network: Zimmer Biomet Holdings, Inc. to H..
07/24ZIMMER BIOMET HOLDINGS INC : half-yearly earnings release
07/21 ZIMMER BIOMET HOLDINGS, INC. : Other Events (form 8-K)
More news
News from SeekingAlpha
03:00a Tracking Larry Robbins' Glenview Capital Management Portfolio - Q2 2017 Updat..
08/20 Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q2 2017 Update
08/08 Zimmer Biomet subpoenaed by HHS watchdog over consulting arrangements; shares..
08/07 Zimmer Biomet declares $0.24 dividend
08/07 Vanguard Brings You Healthy Returns With Less Volatility
Financials ($)
Sales 2017 7 831 M
EBIT 2017 2 424 M
Net income 2017 1 032 M
Debt 2017 9 440 M
Yield 2017 0,87%
P/E ratio 2017 23,37
P/E ratio 2018 17,72
EV / Sales 2017 4,12x
EV / Sales 2018 3,85x
Capitalization 22 802 M
Duration : Period :
Zimmer Biomet Holdings Inc Technical Analysis Chart | ZBH | US98956P1021 | 4-Traders
Technical analysis trends ZIMMER BIOMET HOLDINGS INC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 136 $
Spread / Average Target 20%
EPS Revisions
Daniel P. Florin Director, Chief Executive & Financial Officer
Larry C. Glasscock Non-Executive Chairman
Adrian Furey Senior VP-Global Operations & Logistics
David J. Kunz VP-Global Quality, Clinical & Regulatory Affairs
Arthur Joseph Higgins Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
MEDTRONIC PLC17.25%113 506
C R BARD INC42.18%23 213
TERUMO CORP-3.01%14 575