The company reported fourth quarter net sales of $1.11 billion, an increase of 7.5 percent (2.5 percent on a constant currency basis) over the fourth quarter of 2008. Full-year net sales were $4.10 billion, a decrease of 0.6 percent (0.9 percent on a constant currency basis), according to the release.
Net earnings for the fourth quarter were $155.2 million on a reported basis and $236.1 million on an adjusted basis, an increase of 5.1 percent adjusted over the prior year period. Operating cash flow for the fourth quarter was $385.5 million. Net earnings for the full year 2009 were $717.4 million on a reported basis and $849.9 million on an adjusted basis, a decrease of 8.1 percent adjusted from the prior year. Operating cash flow for the full year was $1.12 billion.
Zimmer announced that it expects full-year revenues for 2010 to increase between 3 percent and 5 percent on a constant currency basis. Assuming foreign currency exchange rates remain near year-end 2009 levels, the company estimates that foreign currency translation will increase revenues by approximately 1 percent for the full year 2010, resulting in reported revenue growth between 4 percent and 6 percent.
Read the release on the Zimmer earnings.
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