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Exactech Posts Prelim Revs, Outlook

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Orthopedic implant devices maker Exactech (NasdaqGS:EXAC - News) reported preliminary sales for the fourth quarter and fiscal 2011. The Gainesville-based company expects to register revenues of $53.1 million in the fourth quarter, a year-over-year growth of 2.5%.

For the full year, the company expects to rake in sales of $205.4 million, an 8% annualized increase. Revenues for both the periods were essentially in line with the Zacks Consensus Estimates.

Exactech noted that its domestic sales for the year grew 1% to $133 million while overseas revenues soared 24% to $72.4 million. U.S. revenues for the quarter fell 2% to $34 million while international revenues surged 11% to $19.1 million.  

Per the preliminary results, revenues from the company’s larger knee implant business dipped 2% to $20.1 million in the fourth quarter. Extremities implant sales spiked 29% to $11 million. Revenues from hip implant franchise climbed 13% to $9.3 million while biologic and spine sales tumbled 21% to $5.9 million. Exactech will report its fourth quarter and full year 2011 results on February 28.  

Moving ahead, Exactech expects revenues for fiscal 2012 in the range of $215 million to $223 million. Earnings per share (as reported) for the year are expected in the band of 88 cents to 96 cents. The corresponding Zacks Consensus Estimates are $216 million and 97 cents, respectively.

For the first quarter, Exactech sees earnings per share in the range of 22 cents to 24 cents on revenues between $54 million and $57 million. Analysts polled by Zacks currently expect revenues of $56 million and earnings of 26 cents a share on an average for the first quarter.

Exactech develops and markets orthopedic implant devices. Its orthopedic products are utilized for the restoration of bones and joints that have degenerated due to diseases. Apart from the U.S. the company markets its products in more than 30 other markets globally.

Exactech competes with the likes of  Wright Medical (NasdaqGS:WMGI - News), Stryker (NYSE:SYK - News), Johnson & Johnson (NYSE:JNJ - News) and Zimmer Holdings (NYSE:ZMH - News), some of whom are much larger in terms of size and resources.

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