Strong first quarter provides momentum for Biomet in 2005-06
This article was originally published in Clinica
Executive Summary
Fiscal 2005 has started off favourably for US orthopaedics company Biomet as it reported a first quarter profit of $0.36 per share - a 20% increase from last year's results and one cent higher than analysts' consensus estimates. The results were adjusted to exclude costs relating to its acquisition of Merck KgaA's interest in the Biomet/Merck joint venture at the end of last year (see Clinica No 1089, p 12) and of Interpore International in June this year (see Clinica No 1113, p 14).
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