Zimmer Holdings (NYSE:ZMH) got a boost today on Wall Street after posting strong 4th-quarter and full-year 2011 numbers.
The Warsaw, Ind.-based orthopedics firm reported profits of $156.6 million, or 87 cents per diluted share, on sales of $1.17 billion for the 3 months ended Dec. 31, 2011. That’s a net earnings increase of nearly 350% and a sales increase of 2.9%.
For the full year, Zimmer posted profits of $760.8 million, or $4.03 diluted EPS, on sales of $4.45 billion, up 27.5% and 5.5%, respectively.
Excluding 1-time items, Q4 EPS was $1.36; full-year adjusted EPS was $4.80. Each number beat The Street’s expectations by 2 cents.
“Zimmer achieved a solid finish to 2011, driven by above-market performance in our Europe, Middle East and Africa and Asia Pacific businesses, as well as the ongoing positive contribution of innovative and proprietary product introductions across our musculoskeletal portfolio,” president & CEO David Dvorak said in prepared remarks. “We expect to deliver sustained growth in sales, earnings and cash flow in 2012 through continued execution of the Company’s strategic priorities, including growth initiatives, transformation programs and disciplined capital allocation.”
ZMH shares were up 3.6% on the news, to $59.84 as of about 1:10 p.m. today.
Zimmer said it expects full-year revenues for 2012 to increase between 2% and 4%, with diluted EPS between $4.75 and $4.95 ($5.20 to $5.40 adjusted).