Friday, August 26, 2011

Financial results of the top 6 producers of hips

Biomet reported $715.2 million in net sales during the fourth quarter of the 2011 fiscal year, a 2 percent increase over last year. The United States net sales decreased by 3 percent during the last quarter, which was offset by the 7 percent increase in European net sales and 11 percent increase in other international sales. The company's reconstructive sales were flat while the extremities sales grew by 17 percent worldwide. The spine business reported $55.4 million in net sales, a 10 percent decrease from last year.
DePuy Orthopaedics, a Johnson & Johnson company, reported $1.4 million in worldwide sales during the second quarter of 2011, which is a slight increase over last year. The company is still reeling from expenses related to litigation stemming from the DePuy ASR Hip recall. Johnson & Johnson spent $233 million on litigation and recall expenses last year.
Smith & Nephew's second quarter 2011 financial report showed a 9 percent increase in revenues to $1 billion for the quarter. The company's orthopedics, trauma, sports medicine and endoscopy markets experienced growth while hip sales were flat. Knee sales grew by 7 percent due to the VERILAST bearing technology.

Stryker reported $2.05 billion in net sales, which is a 12 percent increase over last year. However, the company experienced a 2.1 percent decrease in net earnings to $309 million. The company's hip business reported an 11 percent increase, spine business an 8 percent increase and knee business a 4 percent increase over last year. The company completed the acquisition of Orthovita during the second quarter as well

Wright Medical Group reported $132.5 million in net sales during the second quarter of 2011, which is a 4 percent increase over last year. Total net income also increased from $4.8 million to $6.1 million, due to success in the foot and ankle market. The company's sales were carried by the international market, which grew by 11.5 percent. By contrast, domestic market net sales decreased by 1.5 percent.

Zimmer Holdings reported $1.1 billion in net sales during the second quarter of 2011, a 7.5 percent increase over last year. The increase was driven by the European and Asian Pacific markets, which grew by 17 and 19 percent, respectively. The American market experienced flat sales during the second quarter. The U.S. knee market experienced a 5 percent decrease and the reconstructive and spine markets reported a 2 percent decrease, while the hip market experienced a 2 percent increase.
 Excerpts from an article : Successes and Failures: 18 Orthopedic and Spine Device Companies Battling a Tough Market Written by Laura Miller | August 25, 2011 

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