Saturday, May 19, 2012

Hip companies report first quarter results from thier business

Orthopedic Device Company Q1 Financial Report Updates   (excerpts)                    Written by Laura Miller | May 16, 2012 

Biomet. During the third quarter of the 2012 fiscal year, Biomet reported $709 million net sales worldwide, a 5 percent increase over the same period last year. Biomet reported growth in the large joint reconstructive business, including 4 percent growth in knees and 6 percent growth in hips. Total net sales for the large joint reconstructive business were $422.7 million. Sports medicine sales jumped 16 percent to $92.7 million while the company's trauma business only grew 1 percent in the third quarter. Despite the positive sports medicine and joint replacement growth, Biomet's spine and bone healing business took a hit. The overall business line sales dropped 5 percent to $76.5 million, while just spine products dropped 3 percent.

Johnson & Johnson. Johnson & Johnson's first quarter orthopedics sales were flat overall and dropped 3.5 percent in the United States. The company reported $1.4 million in worldwide orthopedics sales, which was slightly below the $1.5 million reported in the first quarter of 2011. The company's international orthopedics sales increased 2.6 percent, which offset a decrease in the U.S. market. During the first quarter, the company reported $271 million in expenses related to litigation and the DePuy ASR Hip recall costs.

Smith & Nephew. Smith & Nephew reported $1 billion in revenue for the first quarter of 2012, a 3 percent increase over the same period last year. The company's knee implant business was up 6 percent over the first quarter last year, driven by Legion Revision Knee System sales. The company's hip implant business dropped 2 percent in connection with the continuing controversy surrounding metal-on-metal total hip implants. Sales of the company's Birmingham Hip Resurfacing system particularly suffered. Its sports medicine joint repair business grew by 7 percent, and the arthroscopy enabling technologies business was up 1 percent.

Stryker. Orthopedic and spine device company Stryker reported $2.2 billion in first quarter net sales, a 7.2 percent increase over the same period last year. The increase was driven by similar jumps in the company's reconstructive, MedSurg, neurotechnology and spine business lines. Acquisitions in the spine and neurotechnology businesses drove a 12.4 percent net sales increase, while increased unit volume and changes in product mix also contributed to the business line's success. The company's knee and hip business lines also reported a net sales increase of 3.3 percent and 5.1 percent, respectively. During the first quarter, the company incurred $17 million in acquisition- and integration-related charges for Neurovascular, Orthovita, Memometal and Concetric acquisitions

Wright Medical Group. hips and knees business lines dropped 9.6 percent and 5.3 percent respectively. The upper extremities business line saw a 13.3 percent decrease in revenues and the biologics line dropped 21.3 percent.

Zimmer. Zimmer's hip and knee sales were up 2 percent during the first quarter while spine sales dropped 7 percent. Total knee and hip sales reached $471 million and $344 million, respectively. Overall, the company $1.4 billion in first quarter net sales, a 2.2 percent increase over the same period last year. Net earnings for the first quarter were $209.6 million, a slight increase over the first period of 2011. Operating cash flow during the first quarter was $207.4 million. The company reported 1 percent growth in both the American and European markets, along with a 10 percent growth in the Asia Pacific market.

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