Friday, December 23, 2011

Financial summaries from the 3rd quarter of 6 Othopedic Companies

Written by Laura Miller | December 20, 2011 

Biomet experienced a 4 percent increase in net sales during 2Q of the 2012 fiscal year, despite a 5 percent drop in worldwide spine sales. This comes after a 10 percent drop in spine sales during 1Q of FY 2012. The company reported worldwide net sales of $725 million in 2Q, while U.S. net sales increased by 2 percent.

Johnson & Johnson's DePuy Orthopaedics reported a 1.5 percent decrease in U.S. sales during the third quarter of 2011. Worldwide sales increased by 5.7 percent. Johnson & Johnson reported $109 million in total expenses due to litigation matters related to the recall of the DePuy ASR Hip implant in the summer of 2010.

Revenue was up for Smith & Nephew during 3Q, despite poor market growth from its orthopedics business. The company's overall revenue increased by 10 percent to $1 billion over the same period last year, but orthopedics sales only increased by 3 percent to $548 billion. As a result, CEO Olivier Bohuon said the company would take steps to reduce the cost base in orthopedics.

Stryker's net sales showed a 14.9 percent increase during 3Q. The company reported $2 billion in net sales, but net earnings decreased by 3 percent. The company's reconstructive products reported 8 percent increase in sales, driven by acquisitions of Orthovita and Memomental earlier this year. The company's spine business grew by 121 percent to $184 million, offsetting low growth by its hip and knee businesses.

Wright Medical Group reported a 3 percent decrease in net sales during 3Q to $118.2 million. Domestic sales decreased by 7 percent while international sales only grew by 3.6 percent. Knee, hip and biologics sales decreased for the company, while extremities sales grew by 7.5 percent.

Overseas markets drove Zimmer's 6.9 percent sales increase during 3Q. The company reported net sales of $1 million, due to a 17 percent increase in the European market and 19 percent increase in the Asian Pacific market. Sales in the American market remained flat.

[Well, it's nice to see that all of the orthopeidic companies are doing really well financially!]

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