Up 145.6%, Zimmer Holdings, Inc. Expects
1st Qtr 2004 Results to Significantly Exceed Estimates
04/02/2004
Zimmer Holdings, up 145.6% since we gave our buy signal for
the company, has stated that they expect first quarter 2004
results to significantly exceed expectations.
In addition to recommending Zimmer stock,
on July 31, 2003 we recommended buying Zimmer options. The
options were then sold seven months later for a gain of 697.1%.
The company's earnings guidance follows:
WARSAW, Ind., April 2 /PRNewswire-FirstCall/
-- Zimmer Holdings, Inc. (NYSE: ZMH; SWX: ZMH) announced today
that it expects reported sales for the quarter of approximately
$740 million, exceeding the First Call consensus estimate
of $704 million. Every geographic segment and product category
overachieved constant currency, internal expectations. The
company also said that it expects to significantly exceed
the First Call consensus earnings per share estimate for the
quarter (excluding acquisition and integration costs and inventory
step-up).
A news release detailing the quarter results
will be made available on Monday, April 26, 2004, after the
close of the New York Stock Exchange. The company will conduct
its first quarter sales and earnings conference call, which
will be broadcast live over the Internet, on Tuesday, April
27, 2004, at 8:00 a.m. Eastern Time. During the call, the
company will update its guidance for 2004.
The live audio webcast of Zimmer's conference
call will be accessible through the Zimmer website at www.zimmer.com
(Investor Relations section). The webcast will be archived
for future replay. Individuals who wish to dial into the conference
call may do so at (800) 406-1106. International callers should
dial (706) 634-7075. A digital recording will be available
two hours after the completion of the conference from April
27, 2004 to May 11, 2004. To access the recording, US/Canada
callers should dial (800) 642-1687, or for International callers,
dial (706) 645-9291, and enter the Conference ID, 6619815.
About the Company
Founded in 1927 and headquartered in Warsaw,
Indiana, Zimmer is the worldwide #1 pure-play orthopaedic
leader in the design, development, manufacture and marketing
of reconstructive and spinal implants, trauma and related
orthopaedic surgical products. In October, 2003, the company
finalized its acquisition of Centerpulse AG, a Switzerland-based
orthopaedics company and the leader in the European reconstructive
market. The new Zimmer has operations in more than 24 countries
around the world and sells products in more than 80 countries.
As a result of the acquisition of Centerpulse, reported 2003
sales were $1.9 billion. Full-year 2003 pro forma worldwide
sales of Zimmer and Centerpulse were approximately $2.6 billion.
The new Zimmer is supported by the efforts of more than 6,500
employees.
Visit Zimmer on the worldwide web at www.zimmer.com
Zimmer Safe Harbor Statement
This press release contains forward-looking
statements within the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 based on current
expectations, estimates, forecasts and projections about the
orthopaedics industry, management's beliefs and assumptions
made by management. Forward-looking statements may be identified
by the use of forward-looking terms such as "may,"
"will," "expects," "believes,"
"anticipates," "plans," "estimates,"
"projects," "targets," "forecasts,"
and "seeks" or the negative of such terms or other
variations on such terms or comparable terminology. These
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that could cause actual
outcomes and results to differ materially. These risks and
uncertainties include, but are not limited to, our ability
to successfully integrate Centerpulse AG, the outcome of the
pending informal SEC investigation of Centerpulse accounting,
price and product competition, rapid technological development,
demographic changes, dependence on new product development,
the mix of our products and services, supply and prices of
raw materials and products, customer demand for our products
and services, control of costs and expenses, our ability to
form and implement alliances, international growth, U.S. and
foreign government regulation, product liability and intellectual
property litigation losses, reimbursement levels from third-party
payors, general industry and market conditions and growth
rates and general domestic and international economic conditions
including interest rate and currency exchange rate fluctuations.
For a further list and description of such risks and uncertainties,
see the disclosure materials filed by Zimmer with the U.S.
Securities and Exchange Commission. Zimmer disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Readers of this document are cautioned not to place undue
reliance on these forward-looking statements, since, while
we believe the assumptions on which the forward-looking statements
are based are reasonable, there can be no assurance that these
forward-looking statements will prove to be accurate. This
cautionary statement is applicable to all forward-looking
statements contained in this document.
SOURCE: Zimmer Holdings, Inc.
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