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Exactech increases guidance on increased sales; goes direct in France

This article was originally published in Clinica

Executive Summary

Bone and joint restoration specialist Exactech has upped its first-quarter 2008 earnings guidance due to better-than-expected sales of its orthopaedic products. The Gainesville, Florida-based firm expects revenue for Q1 2008 to be around $40m, up 35% from the $29.6m recorded in the same quarter 2007. Consequently, Exactech said it anticipates Q1 earnings to be between $0.22-0.24 per share, ahead of its previous forecasts of $0.18-0.20. Exactech attributed the sales increase to strong uptake of its core products and the start-up of new distributors in Europe. The company recently closed its $11.1m acquisition of French orthopaedic products distributor France Medica, enabling it to go direct in France. The deal was announced in February (see Clinica No 1297, p 17).

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