Business Context and Reporting Period
Company: Zimmer Holdings, Inc.
Filing Type: Form 8-K
Date of Report: July 25, 2007
Reporting Period: Quarter ended June 30, 2007
Headquarters: Warsaw, Indiana
This filing reports the results of operations for the second quarter of 2007. The detailed financial data is contained in an attached press release (Exhibit 99.1) which is incorporated by reference.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are located in the attached Exhibit 99.1 (Press Release) and are not present in the body of this Form 8-K.
The filing highlights the use of two types of non-GAAP financial measures in the referenced press release:
- Operating Performance Measures: Adjusted net earnings, adjusted diluted EPS, and projected adjusted diluted EPS (excluding acquisition and integration expenses).
- Sales Information: Reported on a constant currency basis to exclude the effects of foreign currency exchange rate fluctuations.
Material Changes
The filing text does not provide specific data regarding material changes in financial performance compared to the prior period. It notes that the attached press release contains reconciliations of non-GAAP measures to GAAP measures to assist investors in comparing period-to-period performance.
Guidance, Outlook, and Management Commentary
Management Commentary: Management states that the presentation of non-GAAP measures allows investors to more easily compare performance on a period-to-period basis and understand operating results absent specific acquisition-related items. Management emphasizes that these measures should be considered in addition to, not as a substitute for, GAAP measures.
Guidance: The text mentions "projected adjusted diluted EPS" as a non-GAAP measure included in the press release, but does not provide the specific guidance figures in this document.
Risks and Contingencies: The filing includes a standard disclaimer that the information furnished is not deemed "filed" with the SEC and that the registrant makes no admission as to the materiality of the information.
Important Facts for Investor Verification
- Verify the specific revenue, net earnings, and EPS figures in the attached Exhibit 99.1 (Press Release dated July 25, 2007).
- Review the reconciliation tables in the press release to understand the difference between GAAP and non-GAAP adjusted earnings.
- Confirm the impact of foreign currency exchange rates on sales by comparing reported sales to constant currency sales in the press release.
- Identify the specific acquisition and integration expenses excluded from the adjusted performance measures.