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 $51.3 million for the third quarter of 2012, an 8% increase over $47.3 million in the third quarter of 2011. Net income increased 95% to $2.6 million, or $0.19 per diluted share, compared to $1.3 million, or $0.10 per diluted share, in the same quarter a year ago.
Third Quarter Highlights and Segment Performance
- Third quarter revenue increased 8% to $51.3 million
- Net Income increased 95% to $2.6 million
- Knee implant revenue increased 2% to $18.2 million
- Extremity implant revenue increased 25% to $12.2 million
- Hip implant revenue increased 16% to $9.2 million
- Biologic and Spine revenue increased 10% to $5.9 million
- Other products revenue decreased 9% to $5.6 million
Nine Months Highlights and Segment Performance
For the first nine months of 2012 revenue was $165.1 million, an increase of 8% over $152.3 million for the comparable period last year. Net income for the first nine months of 2012 increased 27% to $8.9 million, or $0.67 per diluted share compared to $7.0 million, or $0.53 per diluted share for the first nine months of 2011.
- First nine month revenue increased 8% to $165.1 million
- Net Income increased 27% to $8.9 million
- Knee implant revenue increased 1% to $60.7 million
- Extremity implant revenue increased 29% to $37.2 million
- Hip implant revenue increased 25% to $30.5 million
- Biologic and spine revenue decreased 2% to $18.0 million
- Other products revenue decreased 10% to $18.7 million
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