Exactech Projects 2Q Sales Lower than Expected and Sets Date for Earnings Call

Mon. July 13, 2009; Posted: 03:51 PM

Jul 12, 2009 (Close-Up Media via COMTEX) -- EXAC | Quote | Chart | News | PowerRating -- Exactech, Inc., a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, said that results for the second quarter will be lower than originally expected.

Management said the company now expects revenue for the quarter ending June 30th will be approximately $43 million. The company earnings also will be below previous guidance. Exactech cited slower industry growth rates that contributed to lower sales of the company's knee implant products in the quarter.

In a release, the company noted that consequently, it has adjusted its revenue targets for the full year 2009 to a range of $167 million to $173 million.

Exactech will formally announce the second quarter results after the close of market on Tuesday, July 28.

The company will hold a conference call with CEO Dr. William Petty and key members of the management team on Wednesday, July 29 at 10 a.m. Eastern. The call will cover second quarter results. Petty will open the conference call and a question-and-answer session will follow.

In a release, the company noted event details:

To participate in the call, dial 1-877-941-2332 any time after 9:50 a.m. Eastern on July 29. International and local callers should dial 1-480-629-9722. While in conference, if callers should require operator assistance, they can press the star followed by the zero button. This will call an operator to the line.

A live webcast of the call will be available at http://viavid.net/dce.aspx?sid=000066E9. A podcast will be available approximately one hour after the event ends and can be accessed at http://viavid.net/mp3/000066E9.mp3. Both will be archived for approximately 90 days.

((Comments on this story may be sent to health@closeupmedia.com))

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