Zimmer Biomet Nearly Triples Profit

Indiana's medical device industry is widely known as one of the strongest in the world.

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Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting first quarter net income of $299.4 million, up from $108.8 million during the same period the previous year. Chief Executive Officer David Dvorak says the growth is consistent with the company’s expectations.

The company is also reporting net sales of $1.98 billion for the first quarter, a 3.8 percent increase over the first quarter of 2016. 

"During the quarter, we made progress towards improving our global supply chain throughput, in concert with ongoing, focused investments to harmonize and optimize our global manufacturing and quality systems," said Dvorak. "We will continue driving these priorities as we progress through the balance of 2017, while leveraging our specialized sales channels and advancing the commercialization of differentiated clinical offerings."

The quarterly earnings report follows a successful full-year report for 2016, in which Zimmer Biomet more than doubled its profit from the previous year. You can view the full first quarter 2017 earnings report by clicking here.