Zimmer reveals 4 per cent sales loss

Zimmer’s net sales fell four per cent to $1.03 billion (0.72 billion pounds), it has been revealed.

According to the company’s fourth-quarter and full-year 2008 financial results, the group’s diluted earnings per share in the final quarter also fell 15 per cent from the same time 12 months earlier, to $0.75.

The organisation however noted its full-year figure for diluted earnings per share had increased 14 per cent to $3.72.

David Dvorak, Zimmer president and chief executive officer, said the company was “not satisfied” with its financial performance over 2008.

However, he noted the business had “made good progress” in addressing the problems that led to the results, adding it was “excited” about the prospect of re-establishing positive momentum.

Mr Dvorak added the company’s goal was to restore revenue growth over 2009.

The organisation announced in its third-quarter results that net sales had risen five per cent to $952 million pounds.