This decline was driven in part by slower procedure growth in areas such as replacement hips and knees, according to industry reports.
Net earnings for the second quarter were $210.1 million on a reported basis and $215.5 million on an adjusted basis, a decrease of 9.0 percent adjusted from the prior year period. The drop in earnings is likely due to a slow in the number of elective surgeries as a result of the economic downturn.
Zimmer adjusted its earnings due to losses in currency value, estimating that foreign currency translation will reduce revenue for 2009 by approximately 2.5 percent.
Read the release on Zimmer’s Q2 earnings.
