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