Zimmer Biomet reported second quarter sales increased 65 percent over the same period last year, but the net loss for the quarter was also increased.
Here are 10 things to know:
1. Zimmer Biomet reported second quarter net loss at $31.1 million, an increase from $173.6 million over the same period last year. The diluted net loss per share for the quarter was $0.16.
2. The company repaid $100 million on its outstanding loan during the quarter and paid $47.8 million in dividends. The second quarter dividend was $0.24 per share.
3. Zimmer Biomet reported net sales of $1.93 billion, up 65.6 percent over the same period last year.
4. The net sales in the Americas increased 73.8 percent to $1.18 million; in the EMEA market, sales were up 58.9 percent to $461 million.
5. The knee sales were up 2.2 percent to $697 million driven by a 50.6 percent increase in the Americas and 48.3 percent increase in the EMEA markets.
6. Hip sales hit $477 million for the quarter, up 49.6 percent. Hip sales in the Americas were up 60.3 percent to $248 million.
7. Spine sales for the quarter were up 147 percent to $146 million.
8. For the six month's end, the net sales hit $3.8 billion, up 66.7 percent.
9. The company's full-year revenue is projected at $7.68 billion to $7.71 billion, a 28 percent increase over 2015. The increase is 3 percent to 3.5 percent on a pro forma basis.
10. Zimmer Biomet expects full year diluted earnings per share to reach $1.50 to $1.75.
This financial report comes one day after unveiling its Signature Solutions for value-based payments. In the past quarter, Zimmer Biomet also acquired LDR and enhanced its joint reconstruction portfolio.