Uncategorized

Exactech Q1 Revenue Increases 9% to $43.3 Million Net Income $2.5 Million and EPS of $0.19

GAINESVILLE, Fla.–(BUSINESS WIRE)–Exactech, Inc. (Nasdaq:EXAC – News), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today revenue of $43.3 million for the first quarter of 2009, a 9% increase over $39.8 million in the first quarter of 2008. Net income was $2.5 million, or $0.19 per diluted share, compared to $2.8 million, or $0.23 per diluted share, in the same quarter a year ago. Net income for the quarter, excluding pre-tax legal expenses and costs of $1.4 million related to the ongoing Department of Justice (DOJ) inquiry, was $3.3 million or $0.26 EPS.

First Quarter Highlights and Segment Performance

> First quarter revenue increased 9% to $43.3 million
> Net income excluding DOJ inquiry costs increased 12% to $3.3 million or $0.26 EPS
> Knee implant revenue remained unchanged at $18.5 million
> Hip implant revenue increased 3% to $6.5 million
> Biologic and Spine revenue increased 6% to $7.1 million
> Extremity implant revenue increased 57% to $5.8 million
> Other products revenue increased 19% to $5.4 million, including $2.3 million of other revenue from our French distributor acquired in April 2008

Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close
Themed By teapots