Nobel Biocare profit down 62%

Source: Healthcare Digital

Date :03/11/2008 09:16:02

Swiss dental implant maker Nobel Biocare posted a lower-than-expected net profit in the third quarter as customers cut back on expensive dental treatments.

Nobel, which issued a profit warning one month ago, reported net profit of €13.5 million. Analysts surveyed by Reuters expected €24 million.

Revenue dropped seven percent to €133 million, the group said.

Commenting, Domenico Scala, Chief Executive, said: “Despite the more challenging environment, we continue to pursue initiatives to reinforce our sales organization, improve our operational effectiveness and rebuild trust among our customers.”

The company said it anticipates that its growth will underperform the market average in 2008 due to its geographic and business mix.