said today that it expects third-quarter earnings to meet analysts expectations, citing strong revenue growth as a factor in the forecast.
For the third quarter, Biomet expects earnings at the high end of the range of 29 cents to 31 cents a share forecast by analysts, excluding one-time charges. Twenty analysts polled by
First Call/Thomson Financial
expect the company, which is based in Warsaw, Ind., to earn 30 cents a share. In the year-ago period, Biomet reported earnings of 25 cents a share.
Biomet, which makes orthopedic medical products, also projected that third-quarter revenue will come in at the upper end of the $255 million to $268.9 million range forecast by analysts.
"Our third quarter results are being led by a continuation of strong revenue growth at the company's EBI subsidiary and accelerating revenue growth in the domestic reconstructive device market through our Warsaw operations,'' the company said.
Shares of Biomet gained $1.63, or 4.4%, to $38.56 in recent
trading. The company will release its financial results March 14.