Zimmer's Earnings, Revenue Improve Less Than Expected [Wall Street Journal, The (NY)]
ZIMMER HOLDINGS INC (ZMH)
US:NYSE Investor Relations:
investor.zimmerbiomet.com
Company Research
Source: Wall Street Journal, The
By Angela Chen Zimmer Holdings Inc. posted smaller-than-expected increases in earnings and revenue for the third quarter amid slowing growth and poor foreign exchange rates. Zimmer has faced a pressured domestic market for reconstructive hip and knee products as people delay surgeries. In recent quarters, however, there have been signs that the declines are stabilizing. The company in April agreed to buy Biomet Inc. for about $13.35 billion in cash and stock, a move meant to position the combined company as a leader in making products to repair muscles and bones. Earlier this month, it announced the acquisition of ETEX Holdings, which creates a bone substitute material. Overall, the company posted a profit of $165.5 million, or 96 cents a share, up 7.2% from $154.1 million, or 90 cents a share, a year earlier. Excluding items, per-share earnings rose to $1.35.Revenue edged up 2.9% to $1.11 billion.Analysts recently polled by Thomson Reuters projected per-sh
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