Fourth-quarter profit at device manufacturer Zimmer Holdings dropped 2.4 percent in its 2012 fiscal year, from $156.6 million last year to $152.8 million this year. The slight drop in earnings was attributed to a $96 million impairment in Zimmer's spine business.
Although profits were mildly down, Zimmer's net revenue increased 1.1 percent in the fourth quarter year-over-year to $1.18 billion. Hip and knee devices helped boosted those figures.
For the entire FY 2012, Zimmer's profit slipped 0.8 percent compared with 2011 to $755 million. Zimmer's total revenue on the year reached $3.35 billion, a 0.5 percent increase from FY 2011.
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Although profits were mildly down, Zimmer's net revenue increased 1.1 percent in the fourth quarter year-over-year to $1.18 billion. Hip and knee devices helped boosted those figures.
For the entire FY 2012, Zimmer's profit slipped 0.8 percent compared with 2011 to $755 million. Zimmer's total revenue on the year reached $3.35 billion, a 0.5 percent increase from FY 2011.
More Articles on Devices:
How Providers Can Maximize the Unique Device Identifier Rule: Q&A With Karen Conway of GHX
Medical Device Tax Takes $97M in January
Global Nonfusion Spine Market to Grow to $1B by 2017