Zimmer released its third quarter numbers this morning and they show a decrease from third quarter numbers last year in terms of earnings per share, but an increase in net sales.
Zimmer reported third quarter net sales of $976 million, an increase of 2.4 percent reported and 3.6 percent constant currency over the third quarter in 2008.Diluted earnings per share for the quarter were .70 cents reported and .88 cents adjusted, a 9.3 percent decrease from last year.
"We are pleased that our sales momentum continued to build in the third quarter as we achieved year-over-year constant currency growth in revenues in each of our three geographic segments," said David Dvorak, president and CEO of Zimmer. "Further, we believe we are stabilizing our core knee and hip franchises and establishing a solid foundation for future growth."
The three geographic areas Dvorak is refrencing are broken down into Americas, Europe and Asia Pacific.
The company said it expects 2009 full-year revenue to increase between 1 and 3 percent.
In the company's report, it also stated that a $35 million provision was made for known and anticipated claims relating to the 2008 temporary suspension of marketing and distribution of the Durom Acetabular component in the United States.
