WARSAW — Zimmer Biomet Holdings Inc. reported Thursday, Oct. 29, financial results for the quarter ended Sept. 30. The Company reported third-quarter net sales of $1.76 billion, an increase of 59.3 percent, as reported.

The increase in the quarter was 0.7 percent on an adjusted pro forma, constant currency basis over the same prior year period. Reported diluted earnings per share for the quarter were $0.11 and adjusted earnings per share were $1.64, an increase of 13.1 percent over the prior year period.

“We are pleased with the achievements of our global teams during Zimmer Biomet’s first quarter as a combined company,” said David Dvorak, president and CEO, Zimmer Biomet. “In an operating period marked by significant progress in the execution of our sales channel integration, we generated sequential top-line improvement and strong earnings growth. As we exit this year and progress through 2016, we are well positioned to continue improving revenue growth and delivering on our synergy commitments.”

Net earnings for the third quarter were $22.2 million on a reported basis and $338.4 million on an adjusted basis, an increase of 35.5 percent adjusted over the prior year period. Operating cash flow for the third quarter was $151.3 million.

During the quarter, the company paid $37.6 million in dividends, or $0.22 per share.

Additionally, the company is reinstating its share repurchase program. The existing program was temporarily suspended in April, 2014, in anticipation of the Biomet transaction. Currently, $599.5 million of share repurchase authorization remains available under this program.

The company updated its full-year 2015 sales and adjusted earnings per share guidance. Full-year 2015 constant currency revenue, relative to comparable adjusted pro forma 2014 revenue, is now expected to increase between 1.0 percent and 1.5 percent. Previously, the company had expected full-year constant currency revenue to increase between 1.5 percent and 2.0 percent. The company expects foreign currency translation to decrease revenues by approximately 5.75 percent for the full year, resulting in reported revenue decreasing between 4.25 percent and 4.75 percent when compared to adjusted pro forma 2014 revenue for the comparable period.

The full news release can be viewed here.

The company now expects full-year 2015 adjusted earnings per share to be in a range of $6.83 to $6.87.  Previously, the company estimated full-year 2015 adjusted earnings per share to be in a range of $6.65 to $6.80.

Zimmer Biomet’s increased earnings per share guidance is due, in part, to the company’s outperformance in the third quarter in capturing operating synergies associated with the merger. The company now forecasts net synergies of$155.0 million within the first 12 months post-closing, a $20.0 million increase over the previous guidance.

The company conducted its third-quarter 2015 investor conference call at 8 a.m. today, Thursday, Oct. 29, with a live audio webcast at Zimmer Biomet’s investor relations website. It will be archived for replay following the conference call.