Nobel Biocare 1Q Net Profit Jumps On Cost Cuts, Beats Views
28 Aprile 2010 - 7:33AM
Dow Jones News
Nobel Biocare Holding AG (NOBN.VX), the world's largest dental
implant maker by sales, Wednesday reported a better-than-expected
first quarter net profit, saying cost cuts helped it boost
profits.
The Zurich-based company said net profit for the three months to
the end of March rose to EUR38.7 million from EUR18 million a year
earlier. The figure beat estimates for a bottom line result of
EUR22 million as Nobel benefited from cost-cutting and staff
reductions.
Sales, however, fell as the company, which is the biggest player
in the U.S., faced challenging dental implant markets in the U.S.
and elsewhere. Overall revenue fell 7.1% to EUR136.7 million from
EUR147 million a year earlier. Sales in North America dropped 6.7%
to EUR44.5 million. Analysts had expected overall sales to remain
flat.
The sales figures were in contrast to that of competitors such
as U.S. Zimmer Holdings Inc (ZMH), closely held Biomet Inc (BMET)
and Swiss peer Straumann holding AG (STRM.EB), which all benefited
from rising demand.
"The dental implant market continued to be challenging in most
regions. Our first quarter result was disappointing," said Chief
Executive Domenico Scala. While he didn't give a clear outlook for
2010, Nobel Biocare said that some dental implant markets have
started to stabilize and may resume growth in 2010.
Web Site:www.nobelbiocare.com
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47;
goran.mijuk@dowjones.com
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