Exactech Announces Third Quarter 2015 Earnings Release Date and Updates Third Quarter Estimates
October 15 2015 - 04:05PM
Business Wire
Exactech, Inc. (Nasdaq:EXAC), a developer and producer of bone
and joint restoration products for hip, knee, shoulder, spine and
biologic materials, said today the company’s financial results for
the third quarter ended September 30, 2015 will be below the
company’s previously announced guidance. The company attributed the
shortfall to a 13% decline in international revenues due to
currency and economic pressures in European and Latin American
markets.
The company expects revenues for the quarter to be approximately
$56 million and diluted earnings per share for the quarter to be in
the range of $0.18 - $0.20. For the full year 2015, the company
expects revenue to be in the range of $239 million to $241 million
and EPS in the range of $1.00 to $1.04. These full year updates
reflect a continuation of the international sales weakness through
the fourth quarter and the removal of the anticipated R&D tax
credit benefit of $0.06 per share as the R&D tax credit has not
yet been renewed by Congress.
The company will release its third quarter 2015 financial
results after the market closes on Tuesday, October 27th, 2015.
The company will hold a conference call with CEO David
Petty and key members of the management team on Wednesday,
October 28th at 10:00 a.m. Eastern Time. The call will
cover Exactech’s third quarter 2015 results. Petty will open the
conference call and a question-and-answer session will follow.
To participate in the call, dial 1-888-417-8533 any time
after 9:50 a.m. Eastern on October 28th. International and local
callers should dial 1-719-457-2645. A live webcast of
the call will be available at
http://www.hawkassociates.com/profile/exac.cfm or
http://public.viavid.com/index.php?id=116694.
This call will be archived for approximately 90 days.
About Exactech
Based in Gainesville, Fla., Exactech develops and markets
orthopaedic implant devices, related surgical instruments and
biologic materials and services to hospitals and physicians. The
company manufactures many of its orthopaedic devices at its
Gainesville facility. Exactech’s orthopaedic products are used in
the restoration of bones and joints that have deteriorated as a
result of injury or diseases such as arthritis. Exactech markets
its products in the United States, in addition to more than 30
markets in Europe, Latin America, Asia and the Pacific. Additional
information about Exactech, Inc. may be found at
http://www.exac.com. Copies of Exactech’s press releases, SEC
filings, current price quotes and other valuable information for
investors may be found at http://www.exac.com and
http://www.hawkassociates.com.
An investment profile on Exactech may be found at
http://www.hawkassociates.com/profile/exac.cfm. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company’s expectations or beliefs concerning future events of
the company’s financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company’s dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company’s
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151015006677/en/
For Exactech, Inc.Investor contacts:Jody Phillips,
352-377-1140Executive Vice President of Finance & Chief
Financial OfficerorHawk AssociatesJulie Marshall or Frank Hawkins,
305-451-1888EXAC@hawkassociates.com
Exactech, Inc. (delisted) (NASDAQ:EXAC)
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