Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/11/2012 | 04:51pm CET

("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
0
Latest news on ZIMMER BIOMET HOLDINGS INC
12/03 Khang & Khang LLP Announces Securities Class Action Lawsuit Against Zimmer Bi..
12/03 ZIMMER BIOMET (ZBH) ALERT : Johnson & Weaver, LLP Announces Filing of Class Acti..
12/02 Lundin Law PC Announces Securities Class Action Lawsuit against Zimmer Biomet..
12/02 Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Zi..
12/02 Goldberg Law PC Announces Securities Class Action Lawsuit against Zimmer Biom..
12/02 GLANCY PRONGAY & MURRAY LLP : Files Securities Class Action Lawsuit Against Zimm..
11/22 ZIMMER BIOMET : Executive Awarded IAIR CEO/MD of the Year for Excellence in Lead..
11/22 ZIMMER BIOMET : Reports Positive Update on Biologics Pipeline Following a Prelim..
11/22 ZIMMER BIOMET : Announces Launch of the Comprehensive® Vault Reconstruction Syst..
11/22 ZIMMER BIOMET : Massachusetts Financial Services Co buys $1,671,681,865 stake in..
More news
Sector news : Medical Equipment, Supplies & Distribution - NEC
11/22DJMEDTRONIC : Cuts Guidance on Sluggish Revenue
11/22DJMEDTRONIC : Cuts Guidance on Sluggish Revenue -- 2nd Update
11/22DJMEDTRONIC : Cuts Guidance on Sluggish Revenue
11/15 EXCLUSIVE : EU regulators seen clearing $25 billion Abbott, St Jude deal
11/15 Exclusive - EU regulators seen clearing $25 billion Abbott, St Jude deal
More sector news : Medical Equipment, Supplies & Distribution - NEC
News from SeekingAlpha
11/30 A Cold Shoulder For Cloud Peak - Cramer's Lightning Round (11/29/16)
11/23 RTI Surgical Is An Undervalued Acquisition Target
11/21 Zimmer Biomet initiates offer to buy up to $1.1B in outstanding debt
11/15 Preliminary data shows Zimmer Biomet's autologous bone marrow aspirate extend..
11/13 Market Underestimating Future Growth At Mazor Robotics After Medtronic Deal
Advertisement
Financials ($)
Sales 2016 7 647 M
EBIT 2016 2 426 M
Net income 2016 494 M
Debt 2016 10 294 M
Yield 2016 0,92%
P/E ratio 2016 45,11
P/E ratio 2017 15,97
EV / Sales 2016 3,97x
EV / Sales 2017 3,65x
Capitalization 20 070 M
More Financials
Chart ZIMMER BIOMET HOLDINGS INC
Duration : Period :
Zimmer Biomet Holdings Inc Technical Analysis Chart | ZBH | US98956P1021 | 4-Traders
Full-screen chart
Technical analysis trends ZIMMER BIOMET HOL...
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 132 $
Spread / Average Target 31%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
David C. Dvorak President, Chief Executive Officer & Director
Larry C. Glasscock Non-Executive Chairman
Robin T. Barney Senior VP-Global Operations & Logistics
Daniel P. Florin Chief Financial Officer & Senior Vice President
David J. Kunz VP-Global Quality, Clinical & Regulatory Affairs
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ZIMMER BIOMET HOLDINGS..-2.33%20 070
MEDTRONIC PLC-6.38%99 513
BAXTER INTERNATIONAL I..16.30%23 938
C R BARD INC10.83%15 438
HOYA CORPORATION-9.17%15 327
TERUMO CORP7.41%13 328
More Results