Key Developments For Exactech Inc
Exactech Inc (EXAC.O) (Nasdaq)
Exactech, Inc. Raises FY 2009 Outlook; Issues Q4 2009 Outlook In Line With Analysts' Estimates
Exactech, Inc. increased its targets for fiscal 2009 for revenue to be in the range of $171 to $174 million and diluted earnings per share (EPS) to be in the range of $1.00 to $1.02. For the fourth quarter of 2009, the Company targets revenue in the range of $42 to $45 million and diluted EPS in the range of $0.22 to $0.24. These EPS target ranges exclude the impact of DOJ inquiry costs. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.95 on revenue of $170 million for fiscal 2009; EPS of $0.23 on revenue of $44 million for the fourth quarter of 2009.
Exactech, Inc. Reaffirms FY 2009 Revenue Outlook; Lowers FY 2009 EPS Outlook; Issues Q3 2009 Outlook; EPS Outlook Above Analysts' Estimates
Exactech, Inc. confirmed its revenue targets for fiscal 2009 in the range of $167 to $173 million and now targets diluted earnings per share (EPS) for fiscal 2009 in the range of $0.92 to $0.96. For the third quarter of 2009, the Company targets revenue in the range of $38 to $41 million and diluted EPS in the range of $0.20 to $0.22. These EPS target ranges exclude the impact of DOJ inquiry costs. According to Reuters Estimates, analysts on an average were expecting the Company to report GAAP EPS of $0.17 on revenue of $40 million for the third quarter of 2009.
Exactech, Inc. Lowers Q2 2009 Guidance; Lowers FY 2009 Revenue Guidance
Exactech, Inc. announced that results for the second quarter of 2009 will be lower than originally expected. The Company now expects revenue to be approximately $43 million. The Company expects earnings also to be below previous guidance. Consequently, the Company has adjusted its revenue targets for fiscal 2009 to a range of $167 to $173 million. According to Reuters Estimates, analysts on an average were expecting the Company to report earnings per share (EPS) of $0.27 on revenue of $45 million for the second quarter of 2009; revenue of $177 million for fiscal 2009. The Company cited slower industry growth rates that contributed to lower sales of the Company's knee implant products in the quarter as the primary reason for negative guidance.
Exactech, Inc. Lowers FY 2009 Guidance; Issues Q2 2009 Guidance Below Analysts' Estimates
Exactech, Inc. updated fiscal 2009 guidance and expects revenue to a range of $176-$184 million and diluted earnings per share (EPS) in the range of $1.02 to $1.08. For the second quarter of 2009, the Company targets revenue in the range of $44-$46 million and diluted earnings per share in the range of $0.26 to $0.28. These EPS target ranges exclude the impact of DOJ inquiry costs. According to Reuters Estimates, analysts were expecting the Company to report revenues of $178 million and EPS of $1.07 for fiscal 2009; revenues of $47 million and EPS of $0.29 for second quarter of 2009.
Exactech, Inc. Extends Knee Development License With Hospital For Special Surgery
Exactech, Inc. announced that it has extended its relationship with Hospital for Special Surgery, New York, NY, to further advance implant designs for total knee replacement surgery. Exactech plans to introduce a new knee implant as an evolution of its Optetrak brand, as a result of this continued collaboration. Limited release of the new knee is expected in the second half of 2009.
