WARSAW, Ind., Jan. 27, 2011 /PRNewswire/ — Zimmer Holdings,
Inc. (NYSE and SIX: ZMH) today reported financial results for the
quarter and year ended December 31, 2010. The Company
reported fourth quarter net sales of $1.13 billion, an increase of
2.5% reported and 3.0% constant currency over the fourth quarter of
2009. Diluted earnings per share for the quarter were $0.18
reported and $1.27 adjusted, an increase of 13.4% adjusted over the
prior year period. Full-year net sales were $4.22 billion, an
increase of 3.0% reported and an increase of 2.3% constant currency
over the prior year. Diluted earnings per share for the year
were $2.97 reported and $4.33 adjusted, an increase of 9.9%
adjusted over the prior year.
“In the quarter, Zimmer’s performance was characterized by
sequential top-line growth in all geographic segments, successful
product introductions and operational discipline, resulting in
improved operating margins and strong cash flow,” said David
Dvorak, Zimmer President and CEO. “Moving into 2011, we
expect to continue to strengthen our leadership position in joint
reconstruction and to enhance our market share in emerging
businesses and geographic markets.”
Net earnings for the fourth quarter were $34.9 million on a
reported basis and $250.6 million on an adjusted basis, an increase
of 6.1% adjusted over the prior year period. Operating cash
flow for the fourth quarter was $341.0 million. Net earnings
for the full year 2010 were $596.9 million on a reported basis and
$871.6 million on an adjusted basis, an increase of 2.6% adjusted
over the prior year period. Operating cash flow for the full
year was $1,193.5 million.
During the quarter, the Company utilized $100.9 million of cash
to acquire 2.0 million shares. Consequently, for the full
year 2010, the Company utilized $505.5 million of cash to acquire
9.1 million shares. At the end of the fourth quarter,
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