• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • Sponsored Placement
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Zimmer Holdings, Inc. Reports First Quarter 2014 Financial Results

- Net Sales of $1.161 billion represent an increase of 2.0% reported over the prior year period (an increase of 3.2% constant currency)

- Diluted EPS for the first quarter were $1.29 reported, an increase of 0.8% over the prior year period, and $1.50 adjusted, an increase of 6.4% over the prior year period

- Company reaffirms sales and updates earnings guidance for 2014

ZIMMER, INC. LOGO. (PRNewsFoto/Zimmer, Inc.) (PRNewsFoto/ZIMMER, INC.)

News provided by

Zimmer Holdings, Inc.

Apr 24, 2014, 07:00 ET

Share this article

Share this article


WARSAW, Ind., April 24, 2014 /PRNewswire/ -- Zimmer Holdings, Inc. (NYSE and SIX: ZMH) today reported financial results for the quarter ended March 31, 2014.  The Company reported first quarter net sales of $1.161 billion, an increase of 2.0% reported and an increase of 3.2% constant currency over the first quarter of 2013.  Diluted earnings per share for the quarter were $1.29 reported and $1.50 adjusted, an increase of 6.4% adjusted over the prior year period.

"Zimmer produced solid results during the first quarter, providing further validation of our long-term growth and stockholder value creation strategies," said David Dvorak, Zimmer President and CEO.  "As we continue focus on the execution of our quality and operational excellence initiatives, we believe that the Company is well positioned for continued growth in the evolving global healthcare landscape through the ongoing development and commercialization of innovative and clinically relevant solutions.  Looking ahead, we remain committed to enhancing value for our stockholders and strengthening our position as a global leader in musculoskeletal healthcare."

Net earnings for the first quarter were $221.5 million on a reported basis and $258.1 million on an adjusted basis, an increase of 7.2% adjusted over the prior year period.  Operating cash flow for the first quarter was $188.8 million. 

During the quarter, the Company utilized $400.5 million of cash to acquire 4.2 million shares.  At the end of the first quarter, $599.5 million of share repurchase authorization remained available under the current program. 

Also in the quarter, the Company paid $34.0 million in dividends and declared a first quarter dividend of $0.22 per share, an increase of 10% over the dividend declared for the prior year period.

Zimmer to Combine with Biomet
Zimmer also announced today that it has entered into a definitive agreement to acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt. Please refer to the separate joint press release issued by Zimmer and Biomet today for additional details regarding the transaction.

Guidance
The Company reaffirmed its full-year revenue and updated earnings guidance for 2014. Full-year revenues are still expected to increase approximately 3.0% to 5.0% on a constant currency basis from 2013.  The Company continues to estimate that foreign currency translation will decrease revenues by approximately 0.5% for the full year, resulting in reported revenue growth between 2.5% and 4.5%.

The Company's earnings guidance has been updated to give effect to a change in the anticipated number of diluted weighted average shares outstanding for 2014.  The number is expected to be higher as a result of the discontinuation of previously guided share repurchases ahead of the announced transaction with Biomet.  The Company now expects full-year 2014 diluted earnings per share to be in a range of $4.90 to $5.10 on a reported basis and $6.00 to $6.20 on an adjusted basis with the higher average shares.  Prior guidance for full-year 2014 adjusted diluted earnings per share was $6.10 to $6.30.  Consistent with the prior guidance, adjusted diluted earnings per share exclude estimated charges for inventory and manufacturing related expenses, quality and operational excellence initiatives, and special items of $250.0 million on a pre-tax basis, or approximately $1.10 per diluted share, on an after-tax basis.  Additional costs connected to the pending transaction with Biomet which are not estimable at this time, shall also be excluded from the adjusted earnings measure.

Conference Call, Webcast and Presentation
The Company will conduct its first quarter 2014 investor conference call today, April 24, 2014, at 8:00 a.m. Eastern Time.  The live audio webcast and accompanying presentation can be accessed via Zimmer's Investor Relations website at http://investor.zimmer.com.  It will be archived for replay following the conference.

Individuals who wish to dial into the conference call may do so at (888) 878-3901. International callers should dial (706) 634-9520 and enter the conference ID15793245.  A digital recording will be available.  To access the recording, US/Canada callers should dial (855) 859-2056 or (800) 585-8367, or for International callers, dial (404) 537-3406, and enter the conference ID15793245.

Sales Table
The following table provides sales results by geographic segment and product category, as well as the percentage change compared to the prior year period on both a reported and constant currency basis.

NET SALES - THREE MONTHS ENDED MARCH 31, 2014


(in millions, unaudited)

































Constant




Net


Reported


Currency




Sales


 % Change


% Change

Geographic Segments











   Americas

$

638



1

%


1

%


   Europe


327



6



4



   Asia Pacific


196



-



8



       Total


1,161



2



3


Product Categories











Reconstructive











   Americas


473



2



2



   Europe


257



6



4



   Asia Pacific


142



-



9



       Total


872



3



4
















Knees












   Americas


284



3



3




   Europe


131



7



5




   Asia Pacific


73



-



10




       Total


488



4



5
















Hips












   Americas


150



(1)



-




   Europe


116



3



1




   Asia Pacific


66



(2)



7




       Total


332



-



2
















Extremities


52



9



9















Dental


61



2



2















Trauma


79



(3)



(1)















Spine


48



1



1















Surgical and other


101



1



3


About the Company
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products.  Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries.  Zimmer's 2013 sales were approximately $4.6 billion.  The Company is supported by the efforts of more than 9,000 employees worldwide.

Website Information
We routinely post important information for investors on our website, www.zimmer.com, in the "Investor Relations" section.  We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD.  Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts.  The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Note on Non-GAAP Financial Measures
As used in this press release, the term "adjusted" refers to operating performance measures that exclude inventory step-up and other inventory and manufacturing related charges, special items and certain tax adjustments. Included in special items are acquisition and integration costs and asset impairment charges related to prior acquisitions as well as employee termination benefits, consulting and professional fees, certain litigation matters, dedicated personnel expenses, certain contract terminations and asset impairment charges connected with global restructuring and operational excellence initiatives.  The term "constant currency" refers to any financial measure that excludes the effect of changes in foreign currency exchange rates.  Reconciliations of these non-GAAP measures to the most directly comparable GAAP measure are included in this press release.

Zimmer Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management.  Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "is confident that," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology.  These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially.  These risks and uncertainties include, but are not limited to:  the success of our quality and operational excellence initiatives; price and product competition; changes in customer demand for our products and services caused by demographic changes or other factors; the impact of healthcare reform measures, including the impact of the U.S. excise tax on medical devices, reductions in reimbursement levels by third-party payors and cost containment efforts of healthcare purchasing organizations; dependence on new product development, technological advances and innovation; shifts in the product category or regional sales mix of our products and services; supply and prices of raw materials and products; control of costs and expenses; our ability to obtain and maintain adequate intellectual property protection; our ability to successfully integrate acquired businesses; our ability to form and implement alliances; challenges relating to changes in and compliance with governmental laws and regulations affecting our U.S. and international businesses, including regulations of the U.S. Food and Drug Administration (FDA) and foreign government regulators, such as more stringent requirements for regulatory clearance of our products; our ability to remediate matters identified in any inspectional observations or warning letters issued by the FDA; changes in tax obligations arising from tax reform measures or examinations by tax authorities; product liability and intellectual property litigation losses; our ability to retain the independent agents and distributors who market our products; our dependence on a limited number of suppliers for key raw materials and outsourced activities; changes in general industry and market conditions, including domestic and international growth rates and general domestic and international economic conditions, including interest rate and currency exchange rate fluctuations; and the impact of the ongoing economic uncertainty affecting countries in the Euro zone on our ability to collect accounts receivable in affected countries.  For a further list and description of such risks and uncertainties, see our periodic reports filed with the U.S. Securities and Exchange Commission.  We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports.  Readers of this document are cautioned not to place undue reliance on these forward-looking statements, since, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate.  This cautionary statement is applicable to all forward-looking statements contained in this document.

 ZIMMER HOLDINGS, INC. 

 CONSOLIDATED STATEMENTS OF EARNINGS 

 FOR THE THREE MONTHS ENDED MARCH 31, 2014 and 2013 

 (in millions, except per share amounts, unaudited) 







2014


2013


 Net Sales 

$     1,161.5


$     1,138.9


 Cost of products sold 

305.4


292.9


 Gross Profit 

856.1


846.0







 Research and development 

47.5


53.5


 Selling, general and administrative 

464.3


460.8


 Special items 

45.9


33.5


      Operating expenses 

557.7


547.8







 Operating Profit 

298.4


298.2


 Interest income 

2.5


3.7


 Interest expense 

(15.0)


(18.2)


 Earnings before income taxes  

285.9


283.7


 Provision for income taxes 

64.8


65.7


 Net earnings 

221.1


218.0


 Less:  Net loss attributable to noncontrolling interest 

(0.4)


(0.6)


 Net Earnings of Zimmer Holdings, Inc. 

$        221.5


$        218.6







 Earnings Per Common Share 





     Basic 

$          1.31


$          1.30


     Diluted 

$          1.29


$          1.28







 Weighted Average Common Shares Outstanding 





     Basic 

169.1


168.7


     Diluted 

171.8


170.7







 Cash dividends declared per common share 

$          0.22


$          0.20


 ZIMMER HOLDINGS, INC. 

 CONDENSED CONSOLIDATED BALANCE SHEETS 

 (in millions, unaudited) 






 March 31, 

 December 31, 





2014

2013

 Assets 






 Current Assets: 






   Cash and cash equivalents 




$               882.7

$            1,080.6

   Short-term investments 




705.4

727.0

   Receivables, net 




939.1

936.6

   Inventories 




1,125.9

1,074.5

   Other current assets 




393.6

379.0

       Total current assets 




4,046.7

4,197.7







 Property, plant and equipment, net 



1,235.6

1,224.7

 Goodwill 




2,623.3

2,611.2

 Intangible assets, net 




671.0

707.7

 Other assets 




803.5

839.3

 Total Assets 




$            9,380.1

$            9,580.6







 Liabilities and Stockholders' Equity 











 Current liabilities 




$               918.7

$            1,031.6

 Other long-term liabilities 




543.6

576.6

 Long-term debt 




1,680.1

1,672.3

 Stockholders' equity 




6,237.7

6,300.1

 Total Liabilities and Stockholders' Equity 


$            9,380.1

$            9,580.6

 ZIMMER HOLDINGS, INC. 

 CONSOLIDATED STATEMENTS OF CASH FLOWS 

 FOR THE THREE MONTHS ENDED MARCH 31, 2014 and 2013 

 (in millions, unaudited) 













2014

2013








 Cash flows provided by (used in) operating activities 





 Net earnings 




$        221.1

$        218.0


 Depreciation and amortization 




101.0

85.1


 Share-based compensation 




11.2

14.0


 Income tax benefits from employee stock compensation plans 


20.2

13.6


 Excess income tax benefits from employee stock compensation plans 


(5.4)

(3.5)


 Inventory step-up 




2.5

0.8


 Changes in operating assets and liabilities, net of acquired assets and liabilities 




     Income taxes 




(75.6)

17.6


     Receivables 




5.3

(44.2)


     Inventories 




(56.6)

(59.7)


     Accounts payable and accrued expenses 



(56.0)

(31.3)


     Other assets and liabilities 




21.1

(29.9)


 Net cash provided by operating activities 



188.8

180.5








 Cash flows provided by (used in) investing activities 





 Additions to instruments 




(49.4)

(57.5)


 Additions to other property, plant and equipment 


(31.4)

(17.9)


 Purchases of investments 




(600.7)

(94.8)


 Sales of investments 




583.1

232.0


 Investments in other assets 




-

(8.8)


 Net cash provided by (used in) investing activities 


(98.4)

53.0








 Cash flows provided by (used in) financing activities 





 Net payments under revolving credit facilities 



0.2

(100.1)


 Dividends paid to stockholders 



(34.0)

(30.9)


 Proceeds from employee stock compensation plans 


138.2

67.0


 Excess income tax benefits from employee stock compensation plans 


5.4

3.5


 Repurchase of common stock 




(400.5)

(392.0)


 Net cash used in financing activities 



(290.7)

(452.5)








 Effect of exchange rates on cash and cash equivalents 


2.4

(8.3)









 Decrease in cash and cash equivalents 



(197.9)

(227.3)

 Cash and cash equivalents, beginning of period 



1,080.6

884.3

 Cash and cash equivalents, end of period 



$        882.7

$        657.0

 ZIMMER HOLDINGS, INC. 

 NET SALES BY GEOGRAPHIC SEGMENT 

 FOR THE THREE MONTHS ENDED MARCH 31, 2014 and 2013 

 (in millions, unaudited) 



 Three Months Ended March 31, 







2014

2013

% Inc








 Americas 

$        638.7

$        634.7

1

%

 Europe 

326.9

307.5

6


 Asia Pacific 

195.9

196.7

-


 Total 

$     1,161.5

$     1,138.9

2




















 ZIMMER HOLDINGS, INC. 

 NET SALES BY PRODUCT CATEGORY 

 FOR THE THREE MONTHS ENDED MARCH 31, 2014 and 2013 

 (in millions, unaudited) 



 Three Months Ended March 31, 







2014

2013

% Inc/(Dec)








 Reconstructive 






 Knees 

$        487.9

$        471.0

4

%


 Hips 

331.7

330.8

-



 Extremities 

52.1

47.8

9




871.7

849.6

3








 Dental 

61.0

59.7

2


 Trauma 

79.7

82.0

(3)


 Spine 

48.3

47.7

1


 Surgical and other 

100.8

99.9

1


 Total 

$     1,161.5

$     1,138.9

2


ZIMMER HOLDINGS, INC.

RECONCILIATION OF REPORTED % GROWTH TO

CONSTANT CURRENCY % GROWTH

(unaudited)



















For the Three Months Ended




March 31, 2014







Foreign


Constant




Reported


Exchange


Currency




% Change


Impact


% Change

Geographic Segments










   Americas

1

%


-

%


1

%


   Europe

6



2



4



   Asia Pacific

-



(8)



8



       Total

2



(1)



3


Product Categories










Reconstructive










   Americas

2



-



2



   Europe

6



2



4



   Asia Pacific

-



(9)



9



       Total

3



(1)



4















Knees











   Americas

3



-



3




   Europe

7



2



5




   Asia Pacific

-



(10)



10




       Total

4



(1)



5















Hips











   Americas

(1)



(1)



-




   Europe

3



2



1




   Asia Pacific

(2)



(9)



7




       Total

-



(2)



2















Extremities

9



-



9














Dental

2



-



2














Trauma

(3)



(2)



(1)














Spine

1



-



1














Surgical and other

1



(2)



3


 ZIMMER HOLDINGS, INC. 

 Reconciliation of Net Earnings and Adjusted Net Earnings 

 For the Three Months Ended March 31, 2014 and 2013 

 (in millions, unaudited) 








 Three Months 



 Ended March 31, 



2014


2013






 Net Earnings of Zimmer Holdings, Inc. 

$       221.5


$       218.6

 Inventory step-up and other inventory  




    and manufacturing related charges 

7.7


2.2

 Special items 


45.9


33.5

 Taxes on above items* 

(17.0)


(13.5)

 Adjusted Net Earnings 

$       258.1


$       240.8






 * The tax effect is calculated based upon the statutory rates for the jurisdictions where the items 

    were incurred. 














 ZIMMER HOLDINGS, INC. 

 Reconciliation of Diluted EPS and Adjusted Diluted EPS 

 For the Three Months Ended March 31, 2014 and 2013 

 (unaudited) 








 Three Months 



 Ended March 31,  



2014


2013






 Diluted EPS 


$         1.29


$         1.28

 Inventory step-up and other inventory  




    and manufacturing related charges 

0.04


0.01

 Special items 


0.27


0.20

 Taxes on above items* 

(0.10)


(0.08)

 Adjusted Diluted EPS 

$         1.50


$         1.41






 * The tax effect is calculated based upon the statutory rates for the jurisdictions where the items 

    were incurred. 




 ZIMMER HOLDINGS, INC. 

 Reconciliation of 2014 Projected Diluted EPS  

 and Projected Adjusted Diluted EPS 

 (unaudited) 









 Projected Year Ended December 31, 2014: 

Low


High





 Diluted EPS 

$                      4.90


$            5.10

 Inventory step-up and other inventory and manufacturing  




    related charges and special items 

1.48


1.48

 Taxes on above items* 

(0.38)


(0.38)

 Adjusted Diluted EPS 

$                      6.00


$            6.20









 * The tax effect is calculated based upon the statutory rates for the jurisdictions where the items 

     have been or are projected to be incurred. 




Logo - http://photos.prnewswire.com/prnh/20131216/MM33947LOGO

SOURCE Zimmer Holdings, Inc.

Modal title

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2022 Cision US Inc.