Zimmer Holding’s Third Quarter Report
Zimmer Holdings, Inc. recently released their third quarter earnings for 2009. They advertised a total revenue of $966 million for that quarter, a 3.6% improvement from last year’s third quarter. Interestingly, they have disclosed how much money they are setting aside to cover the settlement of Durom failure claims. In the release, Zimmer writes this [...]
Zimmer Holdings, Inc. recently released their third quarter earnings for 2009. They advertised a total revenue of $966 million for that quarter, a 3.6% improvement from last year’s third quarter. Interestingly, they have disclosed how much money they are setting aside to cover the settlement of Durom failure claims. In the release, Zimmer writes this regarding the claims:
During the third quarter, the Company recorded a provision of $35 million for known and anticipated claims related to the Durom Cup. This brings the total provision for Durom related claims to $104 million. As previously disclosed our estimate for these claims is limited to revisions associated with surgeries that predate the 2008 temporary U.S. suspension and which also occurred within two years of the original surgery date.
To see more on Zimmer’s third quarter earnings, see the link provided below.
http://seekingalpha.com/article/168233-zimmer-holdings-inc-q3-2009-earnings-call-transcript?page=1