Business Context and Reporting Period
Company: Zimmer Holdings, Inc. (Note: Filing lists "Zimmer Holdings, Inc." while metadata references "Zimmer Biomet Holdings, Inc.")
Filing Type: Form 8-K (Current Report)
Date of Report: July 28, 2004
Reporting Period: Quarter ended June 30, 2004
This filing reports the results of operations for the quarter ended June 30, 2004. The specific financial data is contained in a press release attached as Exhibit 99(a), which is incorporated by reference. The filing text itself does not contain the numerical financial tables.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are located in the attached press release (Exhibit 99(a)).
Acquisition Context: The company acquired Centerpulse AG on October 2, 2003, and Implex Corp. on April 23, 2004. Comparative sales information includes these entities on a combined basis.
Material Changes and Adjustments
- Acquisition Impact: Results reflect the inclusion of Centerpulse AG and Implex Corp.
- Non-GAAP Adjustments: Management presents adjusted diluted earnings per share excluding specific acquisition-related items to facilitate period-to-period comparison. These excluded items include:
- Inventory step-up
- Acquisition and integration expenses
- Related income tax benefits
- Reconciliation: All non-GAAP measures are reconciled to the most directly comparable GAAP measures in the attached press release.
Guidance, Outlook, and Risks
Management Commentary: Management asserts that the combined and adjusted information aids investors in understanding operating results absent specific acquisition-related items. However, they explicitly state these measures should not be considered a substitute for or superior to GAAP measures.
Regulatory Status: The information furnished in this report is not deemed "filed" with the SEC and is not incorporated by reference into other SEC filings. The registrant makes no admission as to the materiality of the information.
Guidance: The text mentions that the attached earnings release includes guidance for diluted earnings per share on an adjusted basis, but does not state the specific guidance figures.
Investor Verification Checklist
- Review Exhibit 99(a) (Press Release) for specific revenue, net income, and cash flow figures for the quarter ended June 30, 2004.
- Verify the reconciliation between GAAP and non-GAAP diluted earnings per share to understand the magnitude of acquisition-related adjustments.
- Confirm the specific forward-looking guidance for diluted earnings per share provided in the press release.
- Assess the integration progress and financial impact of the Centerpulse AG and Implex Corp. acquisitions.