Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today revenue of $55.2 million for the second quarter of 2012, a 7% increase over $51.7 million in the second quarter of 2011. Net income increased 11% to $3.0 million, or $0.23 per diluted share, compared to $2.7 million, or $0.21 per diluted share, in the same quarter a year ago.
Second Quarter Highlights and Segment Performance
- Second quarter revenue increased 7% to $55.2 million
- Knee implant revenue increased 1% to $21.0 million
- Extremity implant revenue increased 24% to $12.0 million
- Hip implant revenue increased 22% to $10.3 million
- Biologic and Spine revenue decreased 1% to $5.9 million
- Other products revenue decreased 14% to $6.0 million
Six Months Highlights and Segment Performance
For the first six months of 2012 revenue was $113.8 million, an increase of 8% over $105.1 million for the comparable period last year. Net income for the first six months of 2012 increased 11% to $6.3 million, or $0.48 per diluted share compared to $5.7 million, or $0.43 per diluted share for the first six months of 2011. First six month product revenues were as follows:
- First half revenue increased 8% to $113.8 million
- Knee implant revenue increased 1% to $42.5 million
- Extremity implant revenue increased 31% to $25.0 million
- Hip implant revenue increased 29% to $21.2 million
- Biologic and spine revenue decreased 7% to $12.1 million
- Other products revenue decreased 10% to $13.1 million
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