Zimmer Biomet reported net sales at $1.97 billion for the first quarter of 2019, a 0.7 percent increase.
Five things to know:
1. The company reported a 1.2 percent decline in sales in the Americas, hitting $1.2 billion. The company also reported a 6.6 percent sales decline in the EMEA and 1.4 percent sales increase in the Asia Pacific.
2. Knee sales were down 2.7 percent in the quarter, hitting $694 million overall. Knee sales in the Americas dropped nearly 2 percent to $409 million.
3. Hip sales were relatively flat in the Americas, dropping 0.3 percent to $247 million. Overall, hip sales were down 1.6 percent to $484 million.
4. Spine and craniomaxillofacial sales were flat at $183 million for the quarter.
5. In the first quarter, Zimmer Biomet paid down $110 million of debt and plans to use most of its $284 million cash flow to continue decreasing debt throughout the year.