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Zimmer Reports Fourth Quarter and 2010 Financial Results
Date:1/27/2011

WARSAW, Ind., Jan. 27, 2011 /PRNewswire/ -- Zimmer Holdings, Inc. (NYSE and SIX: ZMH) today reported financial results for the quarter and year ended December 31, 2010.  The Company reported fourth quarter net sales of $1.13 billion, an increase of 2.5% reported and 3.0% constant currency over the fourth quarter of 2009.  Diluted earnings per share for the quarter were $0.18 reported and $1.27 adjusted, an increase of 13.4% adjusted over the prior year period.  Full-year net sales were $4.22 billion, an increase of 3.0% reported and an increase of 2.3% constant currency over the prior year.  Diluted earnings per share for the year were $2.97 reported and $4.33 adjusted, an increase of 9.9% adjusted over the prior year.  

"In the quarter, Zimmer's performance was characterized by sequential top-line growth in all geographic segments, successful product introductions and operational discipline, resulting in improved operating margins and strong cash flow," said David Dvorak, Zimmer President and CEO.  "Moving into 2011, we expect to continue to strengthen our leadership position in joint reconstruction and to enhance our market share in emerging businesses and geographic markets." 

Net earnings for the fourth quarter were $34.9 million on a reported basis and $250.6 million on an adjusted basis, an increase of 6.1% adjusted over the prior year period.  Operating cash flow for the fourth quarter was $341.0 million.  Net earnings for the full year 2010 were $596.9 million on a reported basis and $871.6 million on an adjusted basis, an increase of 2.6% adjusted over the prior year period.  Operating cash flow for the full year was $1,193.5 million.

During the quarter, the Company utilized $100.9 million of cash to acquire 2.0 million shares.  Consequently, for the full year 2010, the Company utilized $505.5 million of cash to acquire 9.1 million shares.  At the end of the fourth quarter,
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SOURCE Zimmer Holdings, Inc.
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