Exactech (EXAC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Exactech (EXAC) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.30. The company posted revenue of $66.10 million in the period, compared to analysts expectations of $64.22 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Exactech opened for trading at $26.78 and hit $27.18 on the upside on Friday, eventually ending the session at $27.03, with a gain of 0.56% or 0.15 points. The heightened volatility saw the trading volume jump to 39,931 shares. Company has a market cap of $381 M.

In a different news, on Jul 5, 2016, Joel C Phillips (EVP/CFO/Treasurer) sold 3,000 shares at $26.75 per share price. According to the SEC, on Jun 9, 2016, Gary J Miller (Executive Vice President, R&D) sold 9,800 shares at $25.13 per share price. On Jun 9, 2016, Bruce E Thompson (Sr VP, Biologics & Spine) sold 2,000 shares at $25.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Exactech Inc. develops manufactures markets distributes and sells orthopedic implant devices related surgical instrumentation and biologic services to hospitals and physicians in the United States and internationally. The Company’s operating segments are represented by its major product lines: knee implants hip implants biologics and spine extremity implants and other products. Its other products segment includes miscellaneous sales categories such as surgical instruments held for sale bone cement instrument rental fees shipping charges and other implant product lines. The Company manufactures some components of its knee extremity and hip joint replacement systems at its facility in Gainesville Florida. Its joint replacement products are used by orthopedic surgeons to repair or replace joints that have deteriorated as a result of injury or disease. Its spinal implants are used as an adjunct to the fusion of vertebrae in the treatment of spinal disease and deformity.


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