Zimmer Holdings, Inc. (Zimmer), a US-based medical device company, has reported net sales of $993 million for the first quarter of 2009, down 6.3%, compared with the net sales of $1.06 billion in the year-ago quarter. It has also posted net earnings of $202.2 million, or $0.91 per diluted share, for the first quarter of 2009, compared with the net earnings of $239.3 million, or $1.02 per diluted share, in the year-ago quarter.
Looking ahead, Zimmer Holdings reaffirmed 2009 sales and earnings guidance. It expects full-year revenues to grow 1% to 3%. Adjusted earnings are projected to be in a range between $3.85 and $4 a share.
“Our performance for the first quarter was consistent with our expectations and we are reaffirming our 2009 sales and earnings guidance,” said David Dvorak, Zimmer president and chief executive officer. “We continue to make progress in our efforts to rebuild momentum in our business. Our success at the annual AAOS meeting was highlighted by the large number of surgeons who attended our booth. In addition, we showcased our Trabecular MetalTM Technology and other innovative products, as well as our enhanced medical education program. Moreover, we have now emerged from federal monitoring and the Deferred Prosecution Agreement with global business practices that position us for sustainable, long-term growth.”