Zimmer Holdings Inc Issues FY 2013 Guidance In Line With Analysts' Estimates; Sees FY 2013 Charge Guidance

Zimmer Holdings Inc announced that it expects revenues for fiscal 2013 to increase between 2.5% and 4.5% on a constant currency basis. The Company estimates that foreign currency translation will decrease revenues by approximately 0.5% for the full year 2013, resulting in reported revenue growth between 2% and 4%. Full-year 2013 diluted earnings per share are projected to be in a range of $5.05 to $5.25 on a reported basis and $5.65 to $5.85 on an adjusted basis. The Company expects to record fiscal 2013 pre-tax charges of $120 million to $130 million as details of the various programs are finalized and implemented. The Company also expects to incur an additional $5 million to $15 million for certain acquisition and integration costs connected with the acquisitions of Dornoch Medical Systems, Inc., Exopro and third party distributors around the world. The Company reported revenue of $4.47 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $4.63 billion and EPS of $5.73 for fiscal 2013.