Exactech Inc. said it expects third-quarter revenue to come in below earlier expectations at $42 million.
The company blamed the shortfall on "greater than expected costs associated with entry into new markets and distribution channel changes internationally," as well as softer-than-expected results in several markets.
Exactech, which makes bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, previously projected revenue of $43 million to $46 million for the third quarter.
Shares rose 48 cents, or $3.23, to $15.35 in regular trading Monday. In after-hours trading, the stock fell 33 cents, or 2.1 percent, to $15.02.