Biomet Announces Financial Results for First Quarter of Fiscal Year 2009 (Business Wire)

Friday October 10, 12:30 am ET WARSAW, Ind.--(BUSINESS WIRE)--Biomet, Inc. announced today financial results for its first fiscal quarter ended August 31, 2008. Net sales increased 13% (9% constant currency) to $607 million During the first quarter of fiscal year 2009, net sales increased 13% to $607.0 million from $537.3 million for the “combined” period last year. Excluding the impact of foreign currency, net sales increased 9% during the first quarter. U.S. sales increased 9% to $368.4 million during the quarter; Europe sales increased 19% (7% constant currency) to $169.4 million; and sales for International (which primarily includes Canada, South America, Mexico and the Pacific Rim) increased 20% (13% constant currency) to $69.2 million. On a reported basis, operating income for the first quarter of fiscal year 2009 was... [read full story]