Here are 10 things to know:
1. Zimmer Biomet reported second quarter net loss at $31.1 million, an increase from $173.6 million over the same period last year. The diluted net loss per share for the quarter was $0.16.
2. The company repaid $100 million on its outstanding loan during the quarter and paid $47.8 million in dividends. The second quarter dividend was $0.24 per share.
3. Zimmer Biomet reported net sales of $1.93 billion, up 65.6 percent over the same period last year.
4. The net sales in the Americas increased 73.8 percent to $1.18 million; in the EMEA market, sales were up 58.9 percent to $461 million.
5. The knee sales were up 2.2 percent to $697 million driven by a 50.6 percent increase in the Americas and 48.3 percent increase in the EMEA markets.
6. Hip sales hit $477 million for the quarter, up 49.6 percent. Hip sales in the Americas were up 60.3 percent to $248 million.
7. Spine sales for the quarter were up 147 percent to $146 million.
8. For the six month’s end, the net sales hit $3.8 billion, up 66.7 percent.
9. The company’s full-year revenue is projected at $7.68 billion to $7.71 billion, a 28 percent increase over 2015. The increase is 3 percent to 3.5 percent on a pro forma basis.
10. Zimmer Biomet expects full year diluted earnings per share to reach $1.50 to $1.75.
This financial report comes one day after unveiling its Signature Solutions for value-based payments. In the past quarter, Zimmer Biomet also acquired LDR and enhanced its joint reconstruction portfolio.
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