WARSAW — On Wednesday, July 29, Zimmer Biomet Holdings Inc. reported financial results for the quarter that ended Tuesday, June 30.
The Company reported second quarter net sales of $1.17 billion, a decrease of 1.3 percent reported and an increase of 5.7 percent constant currency compared to the second quarter of 2014. Acquired revenue from Biomet amounted to $60 million, a contribution of 5.0 percent of the constant currency growth rate.

Standalone Zimmer recorded constant currency growth in the quarter of 0.7 percent. Reported net loss per share for the quarter was $0.91 and adjusted earnings per share were $1.59, an increase of 0.6% over the prior year period.

“During the quarter, we completed our landmark combination to create Zimmer Biomet, marking a new era for our company and an unprecedented opportunity to drive our growth and value creation strategies,” said David Dvorak, President and CEO of Zimmer Biomet. “With a broad and diversified musculoskeletal portfolio, Zimmer Biomet is well positioned to reach new heights of commercial and operational excellence, and to accelerate the pace of our innovation for the evolving healthcare landscape.”

Net loss for the second quarter was $158.0 million on a reported basis. On an adjusted basis, net earnings increased 2.8 percent over the prior year period, to $278.7 million. Operating cash flow for the second quarter was $186.8 million.

During the quarter, the Company recorded certain non-recurring, pre-tax expenses, including $465.0 million of charges relating to the Biomet merger and $89.6 million of special items and certain claims. Additionally, pre-tax amortization expense in the quarter was $34.9 million.

Also in the quarter, the Company paid $37.4 million in dividends and declared a second quarter dividend of $0.22 per share, consistent with the dividend declared for the prior year period.

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