Exactech, Inc (EXAC), a manufacturer of orthopaedic devices, said Tuesday that it expects revenue for the completed fourth-quarter to be $53.1 million, a 2.5 percent increase from last year's 51.8 million. The expected revenue is less than analysts estimates.
On average, 4 analysts polled by Thomson Reuters expected the company to report revenue of $54.05 million for the December quarter.
Segmentwise, Extremities implant and Hip implant revenues increased 29 percent and 13 percent respectively. Knee implant, Biologic and spine segment, and other revenues decreased 2 percent, 21 percent and 4 percent respectively.
During the fourth quarter, U.S. sales decreased 2 percent and international sales increased 11 percent, Exactech said.
For the full year, the company expects an 8 percent increase in revenue to $205.4 million from last year's $190.5 million. The company said U.S. sales increased 1 percent to $133.0 million and international sales increased 24 percent to $72.4 million. The full-year revenue projection is also weaker than Street estimate of $206.4 million.
The company issued 2012 fiscal guidance, wherein it targets revenues of $215 million-$223 million and earnings of $0.88-$0.96 per share. For the first quarter of fiscal 2012, the company expects revenue of $54 million-$57 million and earnings of $0.22-$0.24 per share. Analysts estimate revenue of $56.68 million and earnings per share of $0.28 for the quarter, and $221.2 million in revenues and earnings of $1.12 per share for fiscal year 2012.
The company said that it will announce full results for the quarter and the full year on February 28.
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