Zimmer Holdings (ZMH) reaffirmed 2007 guidance but said the first quarter will come in below Wall Street's expectations.
The Warsaw, Ind., orthopedic device maker said it expects to make 91 or 92 cents a share for the quarter ending March 31 on sales of $929 million or so. Analysts surveyed by Thomson Financial were looking for a 95-cent profit on sales of $940 million.
Zimmer cited factors including the loss of its OrthoPat distribution contract, effective Feb. 28, 2006.
Zimmer plans to make up the shortfall in the rest of the year, though, guiding to full-year earnings of $3.90 a share on revenue of $3.83 billion. Those figures are in line with the Wall Street consensus.
Shares rose 1 cent Wednesday to $77.50.