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Zimmer profit beats forecasts, shares rise 4 percent

October 23, 2014

Warsaw-based orthopedic device maker Zimmer Holdings Inc. on Thursday reported profit of $165.5 million in its third quarter, beating Wall Street forecasts.

During late-morning trading Thursday, Zimmer shares had climbed 4 percent to $104.27 on the positive news.

On a per-share basis, the company said it had profit of 96 cents. Earnings, adjusted for non-recurring costs, came to $1.35 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The firm posted revenue of $1.11 billion in the period, also topping Wall Street forecasts. Analysts expected $1.1 billion, according to Zacks.

Zimmer expects full-year earnings to be $6.05 per share.

Zimmer shares now have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 6 percent.

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