Nobel Biocare reported decreased revenues but increased profits for the first fiscal quarter of 2010.
For the quarter, the company had revenues of 137 million euros ($180 million U.S.), a 7% decline over revenues of 147 million euros ($193 million) for the same quarter a year ago. Profits, however, were up 114%.
The dental implant maker reported net profits of 38.7 million euros ($51 million) for the quarter, compared to 18 million euros ($24 million U.S.) for the first quarter of 2009.
The decline in revenue continues to be the result of the prevailing market uncertainties, which have led to a very cautious ordering pattern in particular with larger order sizes, the company noted.
"In the initial months of 2010, we continued to expand our prosthetic offering, to strengthen our organization, and to enhance the company's reputation," said Domenico Scala, CEO of Nobel Biocare, in a press release. "However, the dental implant market continued to be challenging in most regions. Our first quarter result was disappointing."
Going forward, the company will continue to focus on the rollout of its renewed prosthetics offering and will invest in an upgrade of its prosthetics manufacturing infrastructure, he added.
"We believe it is possible that the dental implant market may return to growth in 2010," the company stated.
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