Nobel Biocare reported net income of $19.2 million for the first quarter of 2011, down 67% from $57 million reported in the same quarter a year ago.
Revenues for the quarter were $213 million, up from $203 million for the first quarter of 2010.
Nobel attributed the downturn in quarterly income to the natural disasters in Japan. The company's Japanese business, which accounts for two-thirds of its Asia-Pacific sales, dropped 12% as production at its plant in Chiba was temporarily halted after last month's earthquake and orders shifted to Stockholm, the company said.
While the plant is now back online now, "it's too early to say what the impact on sales will be this year," according to chief financial officer Dirk Kirsten.
In addition, while growth in the sale of dental implants was positive, sales of the company's NobelProcera product line were mixed, the company noted
Meanwhile, Nobel appears to be a serious contender for the acquisition of AstraZeneca's Astra Tech dental implant business. The company has submitted a nonbinding bid for Astra Tech but has not yet decided whether to pursue a binding offer. According to Kirsten, "there are likely still several rounds of bidding ahead," he said during a conference call.
AstraZeneca is seeking $2 billion for Astra Tech, and some 20 companies are reportedly interested in acquiring the company.
In related news, as of April 1, 2011, Richard Laube took over the position as Nobel Biocare's CEO. He replaces Domenico Scala, who the company announced in February was stepping down.
