News
News
Exactech Completes Previously Announced Sale of Common Stock
GAINESVILLE, Fla. -- 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 has closed its previously announced sale of 877,391 shares of its common stock to certain institutional investors at a price of $23.00 per share. The sale resulted in gross proceeds of approximately $20.2 million and net proceeds of approximately $18.8 million after offering expenses and placement agency fees. Exactech offered the shares pursuant to an effective registration statement previously filed with the Securities and Exchange Commission.
Exactech Announces Sale of Common Stock Resulting in $20.2 Million in Gross Proceeds
Reiterates 2008 guidance of revenues of $162-$169MM and diluted EPS of $.92-$.98 GAINESVILLE, Fla. -- 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 has entered into definitive agreements with certain institutional investors to sell 877,391 shares of its common stock at a price of $23.00 per share, resulting in gross proceeds of approximately $20.2 million and net proceeds of approximately $18.8 million after offering expenses and placement agency fees. Exactech offered the shares pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. The offering is expected to close on or before May 14, 2008 and is subject to certain closing conditions.
Exactech Q1 Revenue Increases 34% to $39.8 Million
GAINESVILLE, Fla. -- Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today revenue of $39.8 million for the first quarter of 2008, an increase of 34% compared to $29.6 million for the first quarter of 2007. Net income for the quarter was $2.8 million, or $0.23 per diluted share, a gain of 49% from the $1.9 million, or $0.16 per diluted share, in the same quarter a year ago. First quarter diluted earnings per share included a gain of $0.03 due to a forward currency call option and a loss of $0.01 per share due to Exactech’s minority investment in Altiva prior to the acquisition.
Exactech Increases Q1 and FY’08 Financial Guidance
GAINESVILLE, Fla. -- April 10, 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 of approximately $40.0 million for the first quarter of 2008, an increase of 35% compared to $29.6 million for the first quarter of 2007. Diluted earnings per share for the first quarter is expected to range from $0.22 to $0.24 compared with $0.16 diluted earnings per share in the same quarter a year ago. First quarter earnings include a gain of $0.03 due to a forward currency call option.
Exactech Closes France Medica Acquisition
GAINESVILLE, Fla. -- April 7, 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, effective April 1, 2008, it closed on the acquisition of the stock and assets of France Medica SAS, a French importer and distributor of orthopaedic products and surgical supplies.
Exactech Names Industry Veteran Daniel Berdat as VP of International Sales and Marketing
GAINESVILLE, Fla. -- April 1, 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 the appointment of Daniel Berdat as Vice President of International Sales and Marketing, effective April 1.
Exactech Signs License Agreement for Cartilage Repair Technology, Patent Rights
Developer of orthopaedic bone and joint restoration implants launches technology platform for advancing treatment and repair of cartilage in the knee joint Gainesville, Fla. -- March 4, 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 its Taiwanese subsidiary, Exactech Taiwan, has entered into an exclusive license agreement with the Industrial Technology Research Institute (ITRI) and the National Taiwan University Hospital (NTUH) for the rights to technology and patents related to the repair of cartilage lesions.
Exactech to Host Financial Analyst Meetings at AAOS, Present at Orthopaedics Financial Conference
Orthopaedic firm to highlight shoulder, hip and knee implant products at exhibit during American Academy of Orthopaedic Surgeons Annual Meeting Gainesville, Fla. -- March 3, 2008 -- Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, today announced it will host financial analyst meetings in conjunction with the company’s display for surgeons during the American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting in San Francisco March 5 through March 7.
Exactech 2007 Revenue Up 21% to $124.2M; Net Income $8.5M or $0.72 EPS
Q4 FY’07 Revenue $33.1M, Net Income $2.7M or $0.23 EPS Gainesville, Fla., February 28, 2008 -- Exactech, Inc. (Nasdaq: EXAC) announced today that revenue for fiscal year 2007 increased 21% to $124.2 million from $102.4 million in 2006. Net income for the year increased 9% to $8.5 million or $0.72 diluted earnings per share for the year, compared with net income of $7.8 million or $0.67 diluted earnings per share during 2006. Excluding an impairment charge after taxes of $977,000, related to diamond technology previously announced, net income for 2007 was $9.5 million, an increase of 22%, and diluted earnings per share was $0.80 for 2007 compared to $0.67 in 2006.
Exactech to Acquire Distribution Company in France; Opens Direct Distribution Operations in Japan
GAINESVILLE, Fla. -- February 27, 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 the opening of a wholly-owned distribution subsidiary in Japan and the planned acquisition of a distribution subsidiary in France.
Exactech Awarded National Purchasing Contracts for Orthopaedic Products by Major Hospital Network
GAINESVILLE, Fla. -- February 22, 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 was awarded two national purchasing contracts by the Premier healthcare alliance. The contracts are for bone cement and total joint replacements including hip, knee, and shoulder implants and InterSpace® cement spacers.
Exactech, Inc. Announces Year End Earnings and Conference Call
GAINESVILLE, Fla., February 11, 2008 – Exactech, Inc. (Nasdaq: EXAC), a developer and medical device manufacturer specializing in bone and joint restoration products for hip, knee, shoulder and spine, including biologic materials, will release its fourth-quarter and 2007 year-end earnings on Thursday, February 28, after the market closes.
Exactech Updates Financial Guidance
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.
Exactech Completes Altiva Acquisition
Increases 2008 revenue guidance with spinal products company acquisition GAINESVILLE, Fla. -- January 2, 2008 -- Exactech, Inc. (Nasdaq: EXAC), a rapidly growing orthopaedic device manufacturer, announced today that it closed on the acquisition of Altiva Corporation, a North Carolina-based spinal products company, effective January 1, 2008. Exactech announced its exercise of its option and execution of a merger agreement to acquire Altiva last month based on a valuation of $25.0 million. Exactech's final payment of $6.7 million was funded through a combination of $5.1 million from its credit line and through the issuance of approximately 75,000 shares of Exactech common stock.
