October 23, 2014 by Brad Perriello
Zimmer Holdings says its 3rd-quarter earnings beat expectations and narrows its sales and earnings guidance for the rest of the year.
Zimmer posted profits of $165.5 million, or 96¢ per share, on sales of $1.11 billion during the 3 months ended Sept. 30, for bottom-line growth of 7.2% on sales growth of 3.0% compared with Q3 2013.
Adjusted to exclude 1-time items, earnings per share were $1.35, a full 5¢ above expectations on Wall Street.
Sales of Zimmer’s knee implants rose 6% on a constant currency basis, led by 10% growth in Europe. Hip implant sales were up 3% worldwide but flat in the U.S., the Warsaw, Ind.-based company said.