This excerpt taken from the EXAC 8-K filed Jan 16, 2008.
Q4 07 Revenue $33.1M Up 27%, 2008 EPS $0.88-$0.94
GAINESVILLE, Fla. - January 16, 2008 Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today that it expects to report revenue for the fourth quarter of 2007 of $33.1 million an increase of 27% compared to $26.2 million for the fourth quarter of 2006. Net income for the fourth quarter is expected to range from $2.6 million to $2.9 million or $0.22 to $0.24 diluted earnings per share compared with net income of $2.3 million or $0.19 diluted earnings per share in the same quarter a year ago.
Exactech Chairman and CEO Bill Petty said, This represents our sixth quarter in a row of increasing sequential revenue growth. U.S. sales represented our strongest quarterly growth in four years with a gain of 24% to $26.1 million during the fourth quarter. Our worldwide market presence continues to expand. International sales remained strong, increasing 38% to $7.0 million for the quarter.
Chief Financial Officer Jody Phillips said, Due to the momentum in our domestic sales growth we are increasing our 2008 diluted earnings per share targets to $0.88 to $0.94 based on top line revenue expectations of $146 million to $158 million. We also are releasing our initial expectations for the first quarter of 2008 of revenues of $36 million to $38 million and diluted earnings per share of $0.18 to $0.20.
The foregoing statements regarding targets for the quarter and full year are forward-looking and actual results may differ materially. These are the companys targets, not predictions of actual performance.
The company has scheduled a conference call for Friday, February 29 at 11:00 a.m. Eastern Time. The call will cover the companys 2007 results. Petty will open the conference call and a question-and-answer session will follow.
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To participate, dial (800) 762-8779 any time after 10:50 a.m. Eastern on February 29. International and local callers should dial (480) 248-5081. A live webcast of the call will be available at http://viavid.net/dce.aspx?sid=00004A51.
A podcast will be available approximately 15 minutes after the event ends and can be accessed at http://viavid.net/mp3/00004A51.mp3. Both will be archived for approximately 90 days.