Biomet Posts Narrower FQ4 Loss

Biomet reported a narrower fiscal fourth-quarter loss. Biomet posted a quarterly loss of $388.1 million, versus a year-ago loss of $812.8 million. Excluding special items, Biomet's adjusted earnings surged to $105.6 million from $24.6 million. Its net sales rose 3.4% to $739.5 million, while gross margin gained to 69.6% from 68%. US sales climbed 6.8%, while sales in Europe declined 8.2%.