Exactech Inc. (NASDAQ:EXAC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Exactech Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.39% to $0.27 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 9.8% to $60.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Exactech Inc. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $58.68 million.
Quoting Management: Exactech Chairman and CEO Dr. Bill Petty said, “This was a strong quarter for Exactech. We were pleased with our bottom line performance with a 23% gain in net income and welcomed operating margin expansion. Our overall revenue gain of 10% was led by 36% growth in our shoulder sales and a 15% rise in revenue in our biologic and spine category. We are especially pleased with the continued robust growth of the Equinoxe shoulder. This ongoing success is due to the clinical advantages of the system that provide improved patient outcomes. Surgeons recognize these advantages and appreciate the excellent educational programs that Exactech offers to improve their ability to use the system to its full potential. We believe we are poised for continued growth with this offering and renewed growth for our hip and knee systems as we continue to introduce new products in these lines and expand our distribution channels.”
Key Stats (on next page)…