Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting a second quarter net loss of $31.7 million, compared to a net loss of $173.8 million during the same period last year. Despite the loss, Chief Executive Officer David Dvorak says the revenue growth was above the top end of the company’s expectations.
The company is also reporting second quarter net sales of $1.93 billion, which is a nearly 66 percent increase from the second quarter of 2015. Dvorak says the results were highlighted, in part, by the company’s ongoing strength in the Asia Pacific region.
"Our top line performance, coupled with the ongoing capture of operational synergies, supported investments into strategic growth drivers, while delivering adjusted earnings per share above our guidance range," said Dvorak. "We will continue to execute on commercial opportunities across our broad portfolio in the second half of the year, as well as expand our clinical offerings with differentiated new technologies, services and solutions."
Zimmer Biomet closed on the acquisition of Arizona-based Cayenne Medical Inc. during the second quarter. Last month, the company announced plans for the $1 billion acquisition of Texas-based LDR Holding Corp. (Nasdaq: LDRH).