2010
Exactech Announces Resolution of Government Investigation
GAINESVILLE, Fla. – December 7, 2010 – 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 a Deferred Prosecution Agreement (DPA) with the United States Attorney's Office for the District of New Jersey (USAO) and a civil Settlement Agreement (CSA) with the United States. These agreements resolve the investigation commenced by the USAO in December 2007 into the Company's consulting arrangements with orthopaedic surgeons relating to its hip and knee products in the United States. Pursuant to the DPA, an independent monitor will review and evaluate the Company's compliance with its obligations under the DPA. The USAO specifically acknowledges in the DPA that it does not allege that the Company's conduct adversely affected patient health or patient care.
Exactech Q3 Revenue $42.0M; EPS $0.11 Market Leading Extremity Growth at 33%
GAINESVILLE, Fla. – November 2, 2010 -- 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 $42.0 million for the third quarter of 2010, a 1% decrease from $42.4 million in the third quarter of 2009. Net income decreased 46% to $1.5 million, or $0.11 per diluted share, compared to $2.7 million, or $0.21 per diluted share, in the same quarter a year ago. Net income for the quarter, excluding pre-tax legal expenses and costs of $0.2 million related to the ongoing Department of Justice (DOJ) inquiry, was $1.6 million or $0.12 EPS.
Exactech Says Q3 Financial Results Below Expectations
GAINESVILLE, Fla. – October 18, 2010 – Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, said today the company’s financial results for the third quarter ended September 30, 2010 will be below the company’s previously announced guidance with estimated revenues for the third quarter of $42 million. The shortfall is due to greater than expected costs associated with entry into new markets and distribution channel changes internationally. In addition to the impact of these changes on revenue, the company said business in several markets was softer than originally expected.
Exactech Acquires Minimally Invasive Spine Reconstruction Portfolio
GAINESVILLE, Fla. – August 27, 2010 – 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 acquisition of several innovative spine product lines and all related technology from VertiFlex, Inc. a leading developer of minimally invasive and motion preserving spinal surgery technologies.
Exactech To Present at Upcoming Investor Conferences
GAINESVILLE, Fla. – August 9, 2010 – Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced its schedule of participation at upcoming investor conferences:
Exactech Q2 Revenue Up 10%; Net Income Up 14%, EPS $0.23
GAINESVILLE, Fla. – August 3, 2010 -- 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 $47.6 million for the second quarter of 2010, a 10% increase over $43.3 million in the second quarter of 2009. Net income increased 14% to $3.0 million, or $0.23 per diluted share, compared to $2.6 million, or $0.20 per diluted share, in the same quarter a year ago. Net income for the quarter, excluding pre-tax legal expenses and costs of $0.4 million related to the ongoing Department of Justice (DOJ) inquiry, was $3.2 million or $0.25 EPS.
Exactech Schedules Second Quarter 2010 Earnings Release and Conference Call
GAINESVILLE, Fla. – July 16, 2010 -- Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, will release its second quarter 2010 financial results on August 3, 2010. A copy of the earnings release will be available at http://www.hawkassociates.com.
Exactech to Present at the 2010 Noble Financial Equity Conference on June 7
GAINESVILLE, Fla. – June 2, 2010 – Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, will present at the Sixth Annual Noble Financial Equity Conference in Hollywood, Florida. The two-day investor conference will showcase 140 small cap public companies.
Exactech Acquires Key Supplier, Secures Proprietary Knee Replacement Technology
GAINESVILLE, Fla. – May 25, 2010 – 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 the company has acquired Brighton Partners, Inc., the sole source supplier of the direct compression molded polyethylene bearings used exclusively in Exactech’s flagship product, the Optetrak® knee replacement system. The acquisition includes the company’s assets, technology and know-how to continue manufacturing at the Sarasota, Fla.-based facility. Exactech plans to retain the Brighton Partners employees and to add additional staff as needed to support the company’s future growth.
Exactech Q1 Revenue Up 13%, Net Income Up 33% Reflecting Strong Surge in International Orthopaedic Sales and Decreased Legal Costs
GAINESVILLE, Fla. – April 27, 2010 -- 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 $49.1 million for the first quarter of 2010, a 13% increase over $43.3 million in the first quarter of 2009. Net income was $3.3 million, or $0.25 per diluted share, compared to $2.5 million, or $0.19 per diluted share, in the same quarter a year ago. Net income for the quarter, excluding pre-tax legal expenses and costs of $0.2 million related to the ongoing Department of Justice (DOJ) inquiry, was $3.4 million or $0.26 EPS.
Exactech Approved to Begin Marketing Novation® Hip System in High Demand Asian Market
Gainesville, Fla. – April 15, 2010 -- 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 the company has been granted approval to market its Novation® primary hip replacement system in Japan, a robust orthopaedics market where hip replacement surgeries outnumber knee replacement procedures
Exactech Schedules First Quarter 2010 Earnings Release and Conference Call
GAINESVILLE, Fla. – April 13, 2010 -- Exactech Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, will release its first quarter 2010 financial results on Tuesday, April 27, 2010 after regular trading hours end. A copy of the earnings release will be available at http://www.hawkassociates.com.
Exactech to Meet with Financial Analysts at AAOS Orthopaedic Meeting; Present Growth Strategies at Investor Conference
GAINESVILLE, Fla. – March 8, 2010 -- Exactech Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, today announced its schedule of upcoming investor events.
Exactech Platform Fracture Stem for Shoulder Surgeries Receives FDA Clearance
GAINESVILLE, Fla. – March 2, 2010 -- 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 the company has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market the company’s Equinoxe® Platform Fracture Stem, the latest addition to the company’s shoulder arthroplasty line.
Exactech 2009 Revenue Up 10% to $177M
GAINESVILLE, Fla. – February 22, 2010 -- Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, extremities, spine and biologic materials, announced today that revenue for 2009 increased 10% to $177.3 million from $161.7 million in 2008. Diluted earnings per share for the year was $0.65 based on net income of $8.3 million. This compares with net income of $11.1 million or $0.87 diluted EPS a year ago. Net income for 2009 included pre-tax legal expenses and estimated settlement costs of $7.0 million related to the ongoing Department of Justice (DOJ) inquiry. Excluding the impact of these legal expenses, 2009 net income was $13.2 million or $1.03 diluted EPS compared with $12.7 million or $0.99 diluted EPS in 2008.
Exactech Schedules Fourth Quarter and Full Year 2009 Earnings Release and Conference Call
GAINESVILLE, Fla. – February 9, 2010 -- Exactech Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, will release its fourth quarter and full year 2009 financial results on Monday, February 22, 2010 after regular trading hours end. A copy of the earnings release will be available at http://www.hawkassociates.com.
Exactech to Support Orthopaedic Research and Education Through OREF Clinician Development Program
GAINESVILLE, Fla. – Jan 25, 2010 -- 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 the company has committed more than $100,000 to fund research and residency enhancement grants and contribute to post-graduate fellowship grants through OREF’s Clinician Development Program (CDP). Exactech has directed its support for fellowship grants to the areas of adult reconstruction, foot and ankle, and shoulder and elbow.
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