Business Context and Reporting Period
Company: Zimmer Holdings, Inc.
Filing Type: Form 8-K
Date of Report: October 25, 2004
Reporting Period: Quarter ended September 30, 2004
This filing reports the results of operations for the third quarter of 2004. The company notes the inclusion of acquired entities Centerpulse AG (acquired October 2, 2003) and Implex Corp. (acquired April 23, 2004) in its comparative sales information.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached Press Release (Exhibit 99.1), which is incorporated by reference but not reproduced in the provided text.
The company presents both GAAP and non-GAAP adjusted measures. Adjusted diluted earnings per share exclude the impact of:
- Inventory step-up
- Acquisition and integration expenses
- Related income tax benefits
Material Changes and Acquisitions
The primary material change noted is the consolidation of results from recent acquisitions. The company provides comparative sales information on a combined basis for the Registrant and Centerpulse. Management states that the adjusted presentation aids in period-to-period comparison by removing specific acquisition-related items.
Guidance, Outlook, and Management Commentary
The filing references guidance for diluted earnings per share on an adjusted basis, though specific forward-looking numbers are not listed in the text. Management emphasizes that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP measures. All non-GAAP measures are reconciled to GAAP in the attached press release.
Risks and Contingencies: The filing explicitly states that the information is furnished pursuant to Item 2.02 and shall not be deemed "filed" with the SEC. The Registrant makes no admission as to the materiality of any information in the report.
Investor Verification Checklist
- Verify specific revenue and earnings figures in the attached Press Release (Exhibit 99.1).
- Review the reconciliation of non-GAAP adjusted earnings to GAAP earnings.
- Assess the specific financial impact of inventory step-up and integration expenses related to Centerpulse and Implex.
- Confirm the exact guidance figures for diluted earnings per share referenced in the press release.