You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Philips loses $467 million patent suit to US competitor
     AMSTERDAM – Royal Philips NV says it will book a $467 million charge in the third quarter after losing a patent lawsuit to smaller U.S. competitor Masimo Corp.
  • Barra shares plan to renew GM
    MILFORD, Mich. – General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S.
  • General Mills to cut workforce
    General Mills plans to cut about 700 to 800 jobs, the second time it has trimmed its workforce in a month as the food company adjusts to a shift by U.S.
Advertisement

Zimmer's quarterly earnings up 16%

Zimmer Holdings Inc. today reported second-quarter earnings of $176.5 million, or $1.03 per diluted common share, on net sales of $1.18 billion. That's a 16 percent increase from the $152.1 million, or 89 cents a share, on sales of $1.17 billion posted for the same three months of 2013.

The Warsaw-based orthopedic devices manufacturer also lowered its estimate for full-year reported earnings to $4.65 to $4.75 from $4.90 to $5.10.

The company cited $250 million in special items that includes inventory charges, manufacturing-related expenses and legal claims. An additional $70 million in expenses is related to Zimmer's pending acquisition of Warsaw-based competitor Biomet Inc.

David Dvorak, Zimmer's president and CEO, said in a statement that the deal is still expected to close before March 31.

sslater@jg.net

Advertisement