Biomet’s Earnings Fall

Since the company is headed to go private, this doesn’t matter very much, but Biomet’s earnings took a tumble last quarter:

Medical device maker Biomet Inc. (BMET) reported a fall in quarterly earnings, hurt by lower sales in spinal and fixation products segments and a charge related to re-negotiation of some distribution agreements.
The company, which is being taken private by a group of equity firms for $11.4 billion, posted fourth-quarter earnings of $41.5 million, or 17 cents a share, compared with $100.4 million, or 41 cents in the year-ago quarter.
Excluding certain items, the company earned 39 cents a share compared with 46 cents in the year-ago quarter.

Posted by on July 9th, 2007 at 9:13 am


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