WARSAW, Ind. (WOWO): A big business in Warsaw saw a big loss in earnings this past year.

Zimmer Biomet Holdings Inc. announced that its annual earnings plummeted 93 percent in 2015 compared to 2014. The company had $49.6 million in earnings, or 26 cents a share, for 2015, which is a steep drop from $720 million, or $4.20 a share in 2014.

The orthopedic devices manufacturer says operating expenses jumped by over $2 billion this past year. Zimmer’s merger with Biomet in mid-2015 also was a factor in the diminished earnings.