Nobel Biocare ($NOBN), a Swiss dental solutions company, saw a net loss of roughly €2.2 million--or just under $3 million--during the third quarter as revenue in the Europe, Middle East and Africa region declined 5.4%.
The company cited increasing economic uncertainty for the slowdown in most of the European markets. Germany, for example, was behind expectations in Q3, and the company saw a decline in Sweden continue. However, it did see promising results in the Russian, Spanish and Italian markets, according to a statement.
The company did see growth in the North American and Latin American/ROW markets, where revenues were up 6% and 19.3%, respectively, during the quarter.
"Our Q3 results showed a sequential improvement over the previous quarter, but are not yet up to our standard," explained CEO Richard Laube in a statement. "We are on track with our strategic initiatives by serving patients, driving our innovation program and strengthening our customer focus. We have seen healthy growth in North America and APAC excluding Japan, while conditions in EMEA became even more challenging, primarily due to increasing economic uncertainty."
Zuercher Kantonalbank analyst Sibylle Bischofberger Frick saw the results as "a mixed bag." Sales were positive, but European developments were negative, she said in an interview with Bloomberg.
Nobel, which is now the second-largest dental implant maker, is attempting to win back market share lost to Straumann Holding AG ($STMN) after a reorganization and a succession of three chief executive officers since 2007, as Bloomberg notes.
The company has been the subject of buyout rumors. Late last month, the company rose the most in more than two years after reports emerged saying EQT Partners AB and Bain Capital are eyeing the company.
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