Zimmer Holdings has reported the financial results for its fiscal third quarter and first nine months of 2014, with increased net sales for both periods.
For the quarter (end-September 30), the company reported net sales of $1.11 billion, an increase of 2.9% over the third quarter of 2013. Net earnings for the third quarter were $165.5 million on a reported basis and $232.6 million on an adjusted basis, an increase of 7.9% adjusted over the prior-year period.
However, dental products had third-quarter net sales of $54 million, a decrease of 2% compared with the same quarter last year.
For the first nine months of the fiscal year, the company reported net sales of $3.45 billion, a 2% increase from the same period the previous year. Dental net sales remained the same at $176 million.
David Dvorak, president and CEO of Zimmer, said in a press release that his company's third quarter was marked by solid revenue growth.
"Looking to future quarters, we believe that our pending combination with Biomet, which we expect to close in the first quarter of 2015, will enhance stockholder value through the creation of a leading innovator in the global musculoskeletal market," he stated.
