Zimmer profit up slightly, meets expectations

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Orthopedic implant maker Zimmer Holdings Inc. on Thursday reported a fractional increase in first-quarter profit on higher sales in all global regions, particularly the Asia Pacific.

The Warsaw-based company slightly reduced its estimate for full-year earnings because of currency translation changes, however, and its shares fell.

Net earnings for the first three months of 2012 were $209.6 million, or $1.17 per share, up 0.3 percent from $208.9 million, or $1.08 per share, in the same period a year earlier.

The company said its adjusted earnings were $1.30 per share, up 8 percent from a year ago and matching the consensus forecast of analysts surveyed by FactSet Research.

Revenue was $1.14 billion, up 2 percent from $1.12 billion a year ago and in line with analyst estimates.

Zimmer said sales were 10 percent higher in its Asia Pacific region and up 1 percent each in the Americas and Europe.

Sales for most product categories climbed by single-digit percentages, although dental and spine products declined.

Zimmer said its full-year earnings are now expected to be in a range of $4.70 per share to $4.90 per share, down from a range of $4.75 per share to $4.95 per share. It cited foreign currency changes as the reason.

Zimmer stock fell 2 percent Thursday, to $62.07 per share.


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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

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