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Zimmer Holdings Inc Lowers FY 2013 Guidance-Conference Call


Thursday, 24 Oct 2013 07:00am EDT 

Zimmer Holdings Inc reaffirmed its fiscal 2013 constant currency revenue guidance and updated its reported revenue and earnings guidance for 2013. Fiscal 2013 revenues are expected to increase approximately 4.5% on a constant currency basis from fiscal 2012. The Company now estimates that foreign currency translation will decrease revenues between 1.5% and 2.0% for the year, resulting in reported revenue growth between 2.5% and 3.0%. Previously, the Company had estimated foreign currency translation would decrease revenues by approximately 2.0%. The Company now expects fiscal 2013 diluted earnings per share (EPS) to be approximately $4.40 on a reported basis and approximately $5.70 on an adjusted basis. Prior guidance for fiscal 2013 reported and adjusted diluted earnings per share was $4.70 to $4.80 and $5.70 to $5.80, respectively. This updated guidance includes estimated charges for inventory step-up and other inventory and manufacturing related charges, certain claims and special items of $335 million on a pre-tax basis, or approximately $1.30 per diluted share, on an after-tax basis. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $4.60 billion and EPS of $4.74 for fiscal 2013. 

Company Quote

103.79
0.12 +0.12%
11 Jul 2014