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Zimmer beats the Street but narrows guidance on sliding sales and EU struggles

Thu, 10/25/2012 - 2:13pm
Mass Device

Orthopedics maker Zimmer's Q3 profits dropped on sliding sales and European currency impacts, leading the company to narrow its full-year outlook to the lower end of previous expectations.

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Zimmer Holdings (NYSE:ZMH) narrowed its full-year earnings outlook as sales and profits slid during the orthopedic device maker's 3rd quarter.

Zimmer's U.S. sales stayed flat during the 3 months ended Sept. 30, 2012, as compared with the same period last year, but European revenues slid 3%, much of that due to the currency exchange impacts.

On a constant currency basis, European sales grew 8%, a strong showing for Zimmer.

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