Zimmer Holdings, parent company of Zimmer Dental, reported net sales of $1.13 billion for the fourth quarter of 2010 (end-December 31), compared with sales of $1.11 billion for the same quarter a year ago.
Zimmer's net earnings for the quarter were $34.9 million on a reported basis and $250.6 million on an adjusted basis, an increase of 6.1% over net earnings of $155.2 million for the fourth quarter of 2009.
The company reported that it spent $100 million in cash during the quarter to purchase 2 million shares.
Net earnings for the year was $596.9 million, compared with $717.4 million for the corresponding period of 2009. Net sales for all of 2010 were $4.22 billion, compared with $4.09 billion for 2009.
The company's dental business accounted for $63 million in net sales for the fourth quarter, up from sales of $57 million for the fourth quarter of 2009, and $219 million for the year, up from net sales of $205 million for 2009.
"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 case flow," said David Dvorak, Zimmer president and CEO, in a press release.
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