WARSAW, Ind.–(BUSINESS WIRE)–Biomet, Inc. (“the Company”) announced today preliminary financial results for its fourth quarter and fiscal year ended May 31, 2014. The final results for the three and twelve months ended May 31, 2014 will be made available to the public with the filing of
Biomet’s Form 10-K for fiscal year 2014 and will include the finalization of income tax related amounts.
Fourth Quarter Preliminary Financial Results
- Consolidated net sales increased 7.7% (7.2% constant currency) worldwide to approximately $845 million
- Knee sales grew 5.1% (4.6% constant currency) worldwide, with U.S. growth of 2.2%
- S.E.T. sales increased 5.9% (5.4% constant currency) worldwide and grew 5.8% in the U.S.
Consolidated net sales increased 7.7% to $844.5 million worldwide during the fourth quarter of fiscal year 2014, compared to net sales of $783.9 million during the fourth quarter of fiscal year 2013. Excluding the effect of foreign currency, consolidated net sales increased 7.2% during the fourth quarter. U.S. net sales increased 6.9% during the fourth quarter to $498.5 million, while Europe net sales increased 10.8% (5.0% constant currency) to $208.9 million and International (primarily Canada, Latin America and the Asia Pacific region) net sales increased 6.4% (11.5% constant currency) to $137.1 million.
Consolidated net sales reflect the benefit of approximately 2% to 2.5% from additional revenue from the 2013 Spine Acquisition. On a consolidated basis, the Company had approximately one less selling day in the quarter compared to the prior year quarter.
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