Zimmer Biomet releases fourth-quarter 2020, year-end financial results
In its year-end 2020 financial statement, Zimmer Biomet reported decreased net sales throughout the fourth quarter and full year of 2020.
The company reported $2.085 billion in net sales during the fourth quarter, a 1.9% decrease from the prior year period, and $7.025 billion in net sales for the year, a 12% decrease from 2019.
According to the release, Zimmer Biomet also reported a full-year net loss of $138.9 million.
“The fourth quarter saw continued pressure from COVID-19 and its impact on the recovery of elective procedures, yet our core business remained strong as did our operational execution to close out 2020,” Bryan Hanson, president and CEO of Zimmer Biomet, said in the release. “Against that backdrop, we continue the transformation of our business in order to drive growth and increase shareholder value, as underscored by today's announcement that we intend to spin off our spine and dental businesses. This transaction will position us to prioritize resources, simplify our operating models and deliver greater value through two independent publicly traded companies. Our team remains confident and focused as we continue to deliver on our mission and serve patients, providers and our customers,” Hanson added.
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