Zimmer Biomet reports fourth-quarter, full-year 2016 preliminary financial results

Zimmer Biomet Holdings Inc. announced its fourth-quarter and full-year preliminary financial results for 2016.

According to a company release, Zimmer Biomet anticipates the net sales for the fourth quarter to be around $2 billion, a 4.1% increase from the previous year period. Revenue reportedly increased by 4.4% from the prior year period based on the adjusted, constant currency basis due to the company acquiring LDR Holding Corporation, which contributed to about 230 basis points. Apart from the contribution from LDR, Zimmer Biomet estimates a 3.5% increase in revenues compared with the fourth quarter of 2015.

Preliminary net sales for the full year are projected to be around $7.7 billion, a 28.1% increase from the previous year. Zimmer Biomet anticipates the full-year revenue increased 3.4% from the previous year, with the acquisition of LDR contributing 110 basis points. Apart from the contribution from the LDR transaction, according to the release, Zimmer Biomet reported 2.3% increase in full-year revenues on a constant currency, adjusted pro forma basis.

“Zimmer Biomet’s solid fourth-quarter sales performance was driven by improved results in joint reconstruction and the continued strong momentum of our [surgical, sports medicine, foot and ankle, extremities and trauma] S.E.T. category and the Asia Pacific region,” David Dvorak, president and chief executive officer of Zimmer Biomet, said in the release. “During the quarter, our commercial and operations teams around the world worked tirelessly to meet existing customer demand, as we continued to make progress toward harmonizing and optimizing our supply chain, manufacturing and quality management systems. We look forward to sharing further highlights on our performance during our fourth-quarter earnings call on Jan. 31.”

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