Nobel Biocare Q2 profit drops 40%

Source: Healthcare Digital

Date :11/08/2008 09:17:16

Nobel Biocare Holding AG has said second quarter profit dropped 42 percent because of a weak US dollar and lower demand in Europe and the US.

Net income declined to €24.3 million from €41.7 million a year earlier, the world's largest maker of dental implants on said Monday, August 11.

Sales fell 5.6 percent to €168.2 million. Nobel Biocare didn't provide year-earlier figures.

The Glattbrugg, Switzerland-based company maintained its 2008 sales forecast, which it already cut three times in the past year.

Chief executive Domenico Scala said in a conference call that there are “encouraging initial signs” of recovery and that the worst may be over in the US market.

Nobel Biocare declined 3.6 percent, to CHF35.48 as of 9:02am in Zurich trading.