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Zimmer Holdings, Inc. Reports Third Quarter 2013 Financial Results
Date:10/24/2013

WARSAW, Ind., Oct. 24, 2013 /PRNewswire/ --

  • Net Sales of $1.07 billion represent an increase of 4.8% reported over the prior year period (an increase of 6.7% constant currency) 
  • Diluted EPS for the third quarter were $0.90 reported, a decrease of 11.8% from the prior year period, and $1.25 adjusted, an increase of 8.7% over the prior year period
  • Company updates sales and earnings guidance
  • Zimmer Holdings, Inc. (NYSE and SIX: ZMH) today reported financial results for the quarter ended September 30, 2013. The Company reported third quarter net sales of $1.07 billion, an increase of 4.8% reported and 6.7% constant currency over the third quarter of 2012. Diluted earnings per share for the quarter were $0.90 reported and $1.25 adjusted, an increase of 8.7% adjusted over the prior year period.

    "Zimmer achieved accelerated top-line growth in the third quarter, fueled by our innovative new product offerings and the focused execution of our global sales teams," said David Dvorak, Zimmer President and CEO. "For the balance of 2013, we expect to continue building stockholder value through the ongoing execution of our growth, operational excellence and capital deployment strategies."

    Net earnings for the third quarter were $154.4 million on a reported basis and $215.6 million on an adjusted basis, an increase of 6.7% adjusted over the prior year period. Operating cash flow for the third quarter was $292.7 million.In the quarter, the Company recorded pre-tax charges of $46.4 million in special items and $43.8 million in cost of products sold pertaining to global restructuring, quality and operational excellence initiatives, certain litigation and recent acquisitions. Adjusted 2013 figures in this release exclude the impact of these charges, which include $39.1 million associated with a broad based product rationalization program; $33.0 million related to quality and operational excellence initiat
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    SOURCE Zimmer Holdings, Inc.
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