Exactech gives Q4 guidance above consensus
Exactech, Inc. (Nasdaq: EXAC), a maker and designer of orthopedic implants, announced that it expects fourth-quarter revenue of $33.1 million, up 27% from $26.2 million a year earlier. Analysts expect revenue of $30.65 million.
The Gainesville, Fla.-based firm said it projects fourth-quarter net income in the range of $2.6 million to $2.9 million, or $0.22 to $0.24 per share, compared with net income of $2.3 million, or $0.19 per share, during the same period of 2006. Wall Street analysts expect, on average, fourth-quarter earnings of $0.21 per share.
"This represents our sixth quarter in a row of increasing sequential revenue growth. U.S. sales represented our strongest quarterly growth in four years with a gain of 24% to $26.1 million during the fourth quarter,” CEO Bill Petty said in a statement. “Our worldwide market presence continues to expand. International sales remained strong, increasing 38% to $7 million for the quarter.”
In pre-market trading, EXAC shares are flat at $21.75. Over the last 52 weeks, shares have ranged from $14.11 to $22.74.
