Zimmer Biomet Reports 2015 Earnings

January 29th, 2016

News Coverage:
Posted: Jan 28, 2016 11:52 AM EST
Updated: Jan 28, 2016 11:52 AM EST

Zimmer Biomet Reports 2015 Earnings

By Alex Brown, Multimedia Journalist

Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting net earnings of $49.7 million in 2015, compared with $720.3 million in 2014. Chief Executive Officer David Dvorak says the company is positioned for growth in 2016.

The company is also reporting fourth quarter net earnings of $29.7 million, compared with $153.8 million during the same period in the previous year. It also saw net sales of $6 billion in 2015, which is an increase of over 28 percent over 2014.

"At the close of a transformational year for Zimmer Biomet, we achieved top line growth supported by sequential improvement from our joint reconstructive and S.E.T. businesses in the U.S.," said Dvorak. "In addition, we finished the year with strong earnings results, as we continued to execute on our global integration plans."

The company closed on a merger between Zimmer Holdings Inc. and Biomet Inc. in June. Dvorak called the $13 billion deal a "momentous achievement."