Zimmer Holdings (NYSE:ZMH) shares are down this morning in early trading after the orthopedics giant lowered its sales and earnings guidance for 2011 – despite beating analysts’ expectations with its third-quarter earnings.
Warsaw, Ind.-based Zimmer said third-quarter profits were $192 million, or $1.01 per share, on sales of $1.03 billion for the three months ended Sept. 30, up 5.2 percent and 6.9 percent, respectively, compared with the same period last year.
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Adjusted for one-time expenses, earnings were $1.04 per share, a penny above $1.04 adjusted EPS Wall Street analysts were looking for.
“Zimmer delivered against our financial commitments in the third quarter with consistent results in both revenues and earnings,” president & CEO David Dvorak said in prepared remarks. “Progress in the commercialization of new products supported a strong performance in many international markets. Through this progress and ongoing financial discipline, we continue to deliver value to stockholders.”
Although Zimmer lowered its sales guidance for the rest of the year, it raised the top end of its EPS forecast.
The company said it now expects to post diluted EPS of $4.40 to $4.45, up from an earlier prediction of $4.25 to $4.35. Full-year sale growth is expected to be 2.3 percent to 2.7 percent, down from a prior prediction of 2.5 percent to 3.5 percent.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Hill-Rom’s Q4, 2011 sales, earnings rise
Hill-Rom Holdings (NYSE:HRC) sported healthy increases to its top and bottom lines for its 2011 fiscal year and beat Wall Street’s fourth-quarter earnings target by a pair of pennies, sending share prices up today.
The Batesville, Ind.-based firm reported annual profits of $133.3 million, or $2.09 per share, on sales of $1.59 billion during the year ended Sept. 30, up 6.4 percent and 59.7 percent, respectively, compared with profits of $125.3 million, or $1.97 per share, on sales of $996.6 million during fiscal 2010.
For the fourth quarter, Hill-Rom logged profits of $63.5 million, or $1.01 per share, on sales of $431 million. That’s up 25.2 percent and 8.6 percent, respectively, compared with the same period last year.
HRC shares were up nearly 3.3 percent to $34.47 as of about 1:20 this afternoon. Read more
Conmed’s Q3 profits rise despite flat sales
Conmed Corp. (NSDQ:CNMD) boosted earnings by 6.7 percent despite flat sales growth for the third quarter.
The Utica, N.Y.-based surgical device maker reported profits of $8.8 million, or 31 cents per share, on sales of $172.2 million for the three months ended Sept. 30. That compares with profits of $8.2 million, or 29 cents per share, on sales of $172.8 million during the same period last year. Read more
Earnings slip despite sales increase for Dentsply
Third-quarter profits slipped for Dentsply International (NSDQ:XRAY) despite top-line growth of 14.4 percent.
The York, Pa.-based dental products maker posted profits of $60.6 million, or 42 cents per share, on sales of $619.8 million for the three months ended Sept. 30.
That’s a bottom-line slide of $4.8 percent compared with profits of $63.7 million, or 44 cents per share, on sales of $541.8 million during the same period last year. Read more
Neoprobe posts Q3 gains, plans to change name after divestiture
Neoprobe Corp. (NSDQ:NEOP) plans to change its name after selling its eponymous gamma detection business to Devicor, a divestiture that led the radio-pharmaceutical company to swing to black for the third quarter.
Dublin, Ohio-based Neoprobe said it earned $19.8 million, or 21 cents per share, on grant income of $256,000 million during the three months ended Sept. 30 – reporting a net gain of about $25 million from the sale to Devicor.
That compares with a net loss of $2.4 million, or 3 cents per share, on grant income of $150,000 for the same period last year.
“In the coming weeks, we expect to announce our new brand identity which we hope will mark a formal turning point in the recognition of Neoprobe as a precision diagnostics company focused on the radio-pharmaceutical space,” president & CEO Mark Pykett said in prepared remarks. Read more
Sales slide 25% for NeuroMetrix, but losses narrow
NeuroMetrix (NSDQ:NURO) managed to narrow its net losses by 28.5 percent during the third quarter, despite shrinking sales.
The Waltham, Mass.-based nerve testing equipment maker reported losses of $2.4 million, or 63 cents per share, on sales of $2.6 million for the three months ended Sept. 30.
That compares with losses of $3.4 million, or 89 cents per share, on sales of $3.4 million during the same period last year. Read more
Wall Street hammers Hanger Orthopedic on lowered guidance
Shares of Hanger Orthopedic (NYSE:HGR) are down more than 16 percent today after the company lowered its forecast for the rest of the year.
The Austin-based orthopedic and prosthetic device maker said it now expects sales of $243 million to $247 million for the fourth quarter and adjusted EPS of 49 cents to 52 cents, sending shares down to $17.78 as of about 2 p.m. today.
The plunge came despite more-than-doubled Q3 profits for Hanger, which reported earnings of $15.4 million, or 45 cents per share, on sales of $235.3 million – a 13.8 percent top-line increase Read more
Sales slip, profits plunge for Natus Medical
Natus Medical (NSDQ:BABY) reported profits of $153,000, or 1 cent per share, on sales of $51.3 million for the three months ended Sept. 30.
That’s a top-line decline of 3.5 percent and a bottom-line plunge of nearly 96 percent compared with profits of $3.6 million, or 12 cents per share, on sales of $53.2 million during the same period last year. Read more
Invacare’s Q3 sales tick up, earnings slide
Sales were up 4.4 percent but profits down 17.9 percent for Invacare Corp. (NYSE:IVC) during the third quarter.
The Elyria, Ohio-based home health care products maker reported profits of $12.8 million, or 40 cents per share, on sales of $456.5 million during the three months ended Sept. 30.
That compares with profits of $15.6 million, or 48 cents per share, on sales of $437.5 million during the same period last year. Read more
Palomar swings to Q3 black
Palomar Medical Technologies (NSDQ:PMTI) swung to third-quarter black on nearly tripled sales for the three months ended Sept. 30.
The Burlington, Mass.-based cosmetic device maker said it pulled down $15.2 million, or 81 cents per share, on sales of $46.1 million for the quarter
That compares with a net loss of $2.0 million, or 11 cents per share, on sales of $15.8 million during the same period last year. Read more
MiMedx sees red during Q3
Bio-implant maker MiMedx (OTC:MDXG) put some red ink in the ledger during the third quarter despite boosting sales by a whopping 1,892 percent.
Kennesaw, Ga.-based MiMedx reported a net loss of $1.8 million, or 2 cents per share, on sales of $2.2 million during the three months ended Sept. 30.
That compares with losses of $2.9 million, or 5 cents per share, on sales of $108,000 during the same period last year – narrowing losses by some 38 percent. Read more
Sales rise, losses gape for iCad on write-down
A $26.8 million goodwill impairment charge caused iCad (NSDQ:ICAD) to post a $25.0 million net loss for the third quarter.
The Nashua, N.H.-based computer-assisted imaging company reported a net loss of 46 cents per share on sales of $8.1 million during the three months ended Sept. 30.
That compares with a loss of $1.4 million, or 3 cents per share, on sales of $5.6 million during the same period last year. Read more