Zimmer Biomet announced its fourth quarter and year 2019 ended with increases in net sales and earnings, and it predicted its financial growth to continue into 2020.
The company reported net sales of $2.126 billion in the fourth quarter of 2019, a 2.6% increase since the third quarter. On a constant currency basis, this was a 3.2% increase. For the full year, net sales were $7.982 billion, an increase of 0.6% in net sales from 2018. On a constant currency basis, this was an increase of 2.2%.
Zimmer Biomet’s net earnings for the quarter were $321 million and $1.132 billion for the year. Adjusted, the net earnings were $478 million and $1.626 billion, respectively. The company’s diluted earnings per share (EPS) were $1.54 for the fourth quarter and $5.47 for the full year. Adjusted diluted EPS for those periods were $2.30 and $7.87, respectively.
During the fourth quarter, major factors that contributed to success were strong performances by the America and Asia Pacific regions, as well as a continuation of strong results in its knee and hip businesses globally, according to the company. Sales of the ROSA Knee System also advanced substantially between the third and fourth quarters.
Bryan Hanson, president and CEO of Zimmer Biomet, said in the release, “We continued to invest for growth and drove improved performance in 2019, especially in the second half of the year. We are operating from a position of strength for 2020 and beyond.”