Zimmer Holdings, Inc. Expects Fourth
Quarter 2003 Results to Exceed First Call Consensus for Both
Sales and EPS
01/19/04
The hot streak continues. We recommended Zimmer in November
of 2001 for a gain of 139.7%. Better yet, we recommended buying
Zimmer options in mid 2003 and have been rewarded with a 692%
gain in five and a half months. Our $660 investment has grown
to $5,230.
This week's continued rise in Zimmer's stock
price can be partly attributed to the company announcing that
they expect quarterly revenue to come in 5% above Wall Street's
estimates. Details follow in the company's press release:
WARSAW, Ind., Jan 15, 2004 /PRNewswire-FirstCall
via COMTEX/ -- Zimmer Holdings, Inc. (NYSE: ZMH; SWX: ZMH)
announced today that it expects its fourth quarter 2003 performance
to exceed First Call consensus. The company said it expects
revenue for the quarter of approximately $700 million, exceeding
consensus of $666 million, and earnings per share (excluding
acquisition and integration costs, in-process R&D write-offs
and inventory step-up) for the quarter to exceed consensus
of $0.44 per share by at least $.04 per share.
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.
For the year 2002, the pro forma worldwide combined revenues
of Zimmer and Centerpulse were approximately $2.2 billion.
On a combined basis, the new Zimmer is supported by the efforts
of nearly 7,000 employees.
Visit Zimmer on the worldwide web at www.zimmer.com
Non-GAAP
Financial Measures
This press release contains certain non-GAAP
financial measures. Information regarding such non-GAAP financial
measures has been furnished in a Current Report on Form 8-K
filed with the Securities and Exchange Commission and may
be accessed from the Zimmer website.
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, 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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