WASHINGTON (dpa-AFX) - Zimmer Biomet Holdings, Inc. (ZBH) announced the company expects full-year 2017 earnings per share to be in a range of $4.37 to $4.67, and in a range of $8.50 to $8.68 on an adjusted basis. The company expects constant currency revenue for full-year 2017, as compared to 2016 revenue, to increase between 3.7% and 4.7%, inclusive of approximately 120 basis points of contribution from the LDR transaction. The company expects foreign currency translation to decrease revenues by approximately 1.5%. Therefore, 2017 revenue is expected to increase between 2.2% and 3.2% when compared to full-year 2016 revenue, or to be in a range of $7.855 billion to $7.930 billion.
Analysts polled by Thomson Reuters expect the company to report profit per share of $8.65 on revenue of $7.91 billion. Analysts' estimates typically exclude special items.
The company reported fourth quarter net sales of $2.013 billion, an increase of 4.1% over the prior year period, and an increase of 4.4% on an adjusted constant currency basis. Excluding approximately 230 basis points of contribution from the LDR Holding Corporation transaction and adjusting for one less billing day in the quarter, revenues increased by 3.5% over the fourth quarter of 2015. Earnings per share for the quarter were $0.33 reported, a decrease of 46.8% from the prior year period, and $2.14 adjusted, an increase of 2.4% adjusted over the prior year period.
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