Zimmer Holdings Inc. - Conference Presentation Calls

Zimmer Holdings Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 27, 2009).

Zimmer Holdings Inc. reported unaudited consolidated earnings results for the Third quarter and nine months ended September 30, 2009. For the quarter, the company reported net sales of $976 million, an increase of 2.4% reported and 3.6% constant currency over $952.2 million in the third quarter of 2008. Diluted earnings per share were $0.70 reported and $0.88 adjusted, a decrease of 9.3% adjusted from the prior year period. Third quarter 2008 adjusted earnings per share included a gain of $0.08 on the sale of certain equity holdings. Operating profit on an adjusted basis was $264 million flat compared to $264.8 million the prior year's third quarter. Operating profit was $204 million compared to $210.3 million a year ago. Net earnings were $149.9 million on a reported basis and $188.3 million on an adjusted basis, a decrease of 13.9% adjusted compared to net earnings of $214.7 million and adjusted earnings of $218.5 million or $0.97 per diluted share in the prior year period. Operating cash flow was $352.3 million. Earnings before tax was $199.8 million compared to $238.5 million a year ago. For the first nine months of 2009, the company's net earnings were $562.2 million on a reported basis or $2.59 per diluted share and $613.8 million or $2.82 per diluted share on an adjusted basis, a decrease of 12.3% adjusted from the prior year period. Net earnings for 2008 same period were $681.1 million or $2.97 per diluted share and adjusted earnings were $699.7 million or $3.05 per diluted share. Net sales were $2,988.1 million compared to $3,090.9 million a year ago. Operating profit was $780.3 million compared to $850.3 million a year ago. Adjusted operating profit was $858.8 million compared to $926.4 million a year ago. Earnings before tax was $768.4 million compared to $886.3 million a year ago. Net cash provided by operating activities was $732 million compared to $831.2 million a year ago. Additions to other property, plant and equipment was $76.8 million compared to $189.2 million a year ago. The company reaffirmed its sales and earnings guidance. Full year revenues for 2009 are expected to increase between 1% and 3% on a constant currency basis. Assuming foreign currency exchange rates remain consistent with current levels, the company estimates that foreign currency translation will reduce revenue for 2009 by approximately 1.6%. Full year 2009 adjusted diluted earnings per share were projected to be in a range of $3.85 to $4.00 and diluted earnings per share were projected at $3.59 to $3.74.