exactech inc (EXAC) Key Developments
Exactech Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2015
Apr 18 15
Exactech Inc. provides earnings guidance for the first quarter ended March 31, 2015. The company expects revenues for the quarter to be $61.4 million and diluted earnings per share for the quarter to be in the range of $0.29 - $0.30.
Exactech, Inc. Unveils New Bone and Joint Restoration Products
Apr 13 15
Exactech Inc. has unveiled new bone and joint restoration products including hip, knee, shoulder and spine surgical solutions. Exactech Knee product family includes the next generation of ExactechGPS Guided Personalised Surgery, which merges sophisticated technology with innovative instrumentation for a real-time, patient-specific solution in total knee arthroplasty. Customized for surgeon preferences, ExactechGPS offers personalised workflow options for reproducibility and efficiency and is surgeon-controlled through a compact, stand-alone system that is designed to integrate into any surgical environment. A new cementless fixation solution for total knee arthroplasty, Optetrak Logic Porous femoral component strikes the optimal balance between material strength, pore size and porosity. In an ovine study, the system's proprietary material comprised of a unique 3-D structural lattice of irregular shaped particles demonstrated higher bone in-growth, greater strength and greater fixation than traditional porous-beaded coating. The Exactech Hip portfolio expands its scope of solutions with the introduction of the Alteon Tapered Wedge Femoral Stem. This next generation, single-taper, wedge-style femoral stem incorporates specific design features to achieve immediate axial and rotational mechanical stability between the medial and lateral cortices of the femoral canal. Exactech Hip portfolio also include: the continued rollout of the Alteon Neck Preserving Femoral Stem which was developed for primary femoral solutions. Unlike traditional stems, this product is a conservative treatment option designed for maintaining the maximum amount of femoral bone; and InteGrip which is a three-dimensional, porous ingrowth material that was developed for acetabular cups in revision and complex primary procedures. The Equinoxe Shoulder System celebrates 10 years of engineering solutions to solve clinical challenges and improve patient outcomes with the introduction of two additions to its wide range of glenoid options. The Posterior Augment Cage Glenoid is designed to provide immediate fixation for anatomic TSA. The Superior/Posterior Augment Baseplate is a new augment designed to correct for superior and posterior wear during challenging reverse procedures. Implant removal solutions include the AcuDriver Automated Osteotome System, an air-driven impact handpiece with precision osteotomes in various sizes for use in revision surgeries. Exactech's InterSpace hip, knee and shoulder spacers are used in two-stage infected revision procedures and provide orthopedic surgeons with the only preformed spacer on the market with a documented clinical history. Exactech recognizes the growing importance of biologic solutions for orthopaedics and is proud to feature Optecure, an engineered bone graft for reconstruction of the spine, pelvis and extremities. Its room temperature convenience facilitates rapid mixing with buffer solution or blood. Optecure and Optecure+ccc can be used with autologus bone and bone marrow.
Exactech Inc. Presents at Canaccord Genuity 10th Annual Musculoskeletal Conference, Mar-24-2015 09:30 AM
Mar 16 15
Exactech Inc. Presents at Canaccord Genuity 10th Annual Musculoskeletal Conference, Mar-24-2015 09:30 AM. Venue: MGM Grand Hotel, Las Vegas, Nevada, United States.
Exactech Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015
Feb 17 15
Exactech Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $63,312,000 compared to $61,578,000 a year ago. Income from operations was $7,331,000 against $6,807,000 a year ago. Income before income taxes was $6,431,000 against $6,376,000 a year ago. Net income was $5,119,000 against $4,595,000 a year ago. Diluted earnings per share were $0.36 against $0.33 a year ago.
For the year, the company reported net sales of $248,373,000 compared to $237,088,000 a year ago. Income from operations was $26,274,000 against $23,929,000 a year ago. Income before income taxes was $24,128,000 against $22,408,000 a year ago. Net income was $16,488,000 against $15,372,000 a year ago. Diluted earnings per share were $1.18 against $1.12 a year ago.
Looking forward, the company released its initial 2015 guidance. Revenue guidance of $252 million to $260 million represents a 1% to 5% top line growth on a GAAP reported basis but it's significantly impacted by current foreign exchange rates. At current rates, the company projects this growth to be 4% to 7% on a constant currency basis. The diluted EPS guidance of $1.20 to $1.28 implies 2% to 9% growth in net income and it estimates that this includes approximately $0.06 to $0.10 per share impact due to current foreign currency rates. During 2015, the company is expecting gross margins to decrease between 20 to 50 basis points assuming that manufacturing cost reductions will continue to somewhat offset modest ASP decreases. The company is projecting an increase in effective tax rate resulting in a tax rate of 33% or 34% for the full year of 2015.
For the first quarter of 2015, the company anticipates revenue guidance of $62 million to $65 million, represents a constant currency revenue increase of 1% to 6%, which is expected to result in first quarter diluted GAAP EPS of $0.30 to $0.32. The company estimates impact of currency rates on this guidance for the first quarter to be approximately $0.02 to $0.03 per share.
Exactech Inc. to Report Q4, 2014 Results on Feb 17, 2015
Feb 3 15
Exactech Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 17, 2015