|
Description
Biomet, Inc., Warsaw, Ind., has announced financial results for its second fiscal quarter ended November 30, 2007.
Worldwide reconstructive device sales increased 15% reported (12% constant currency, excluding instruments) Worldwide knee sales increased 17% reported (16% constant currency, excluding instruments)
Worldwide hip sales increased 12% reported (9% constant currency, excluding instruments)
Worldwide dental sales increased 19% reported (14% constant currency)
Worldwide craniomaxillofacial fixation sales increased 22% reported (19% constant currency)
Worldwide arthroscopy sales increased 30% reported (27% constant currency)
As previously announced, on September 25, 2007, Biomet Inc. merged with LVB Acquisition Merger Sub, Inc., a wholly-owned subsidiary of LVB Acquisition, Inc. LVB Acquisition, Inc. is indirectly owned by investment partnerships directly or indirectly advised or managed by The Blackstone Group L.P., Goldman Sachs & Co., Kohlberg Kravis Roberts & Co. L.P. and TPG Capital. These financial results have been prepared in a manner that complies, in all material respects, with generally accepted accounting principles in the U.S. with the exception of certain purchase accounting adjustments related to the Merger, including the effects of the merger-related debt and associated interest expense. The company will reflect the purchase accounting adjustments related to the Merger by the end of fiscal year 2008.
During the second quarter of fiscal year 2008, net sales increased 11% to $578.1 million. Excluding the impact of foreign... |
Looking for additional articles?
Click here
to search our database of over 3 million articles.
|
