Exactech 2016 Revenue Up 7% To $257.6 Million, Q4’16 Revenue Increased 6% To $66.2 Million

GAINESVILLE, Fla.--(BUSINESS WIRE)--Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products and biologic solutions for extremities, knee and hip, announced today that revenue for 2016 increased 7% to $257.6 million from $241.8 million in 2015. Domestic revenue increased 5% to $176.8 million and international revenue increased 10% to $80.8 million in 2016. Diluted earnings per share for the year was $0.01 based on net income of $0.2 million, including the impact of $1.17 in earnings per share charges related to impairment, restructuring and tax valuation allowances, compared to 2015 net income of $14.8 million and diluted earnings per share of $1.04. Net income and diluted earnings per share for 2016 were significantly impacted by $14.5 million, net of taxes, in impairment and restructuring charges and $2.2 million in tax valuation allowances or $1.17 per share that were recognized in the fourth quarter of 2016. Excluding these charges, 2016 adjusted net income and adjusted diluted earnings per share were $16.8 million and $1.18, respectively; an 18% increase compared to 2015 adjusted net income and adjusted diluted earnings per share of $13.9 million and $0.98, respectively.