Exactech, Inc. 2011 Revenue Up 8% to $205M; Net Income $8.8M, EPS $0.67; Q4 Net Income $1.8M, EPS $0.14

GAINESVILLE, Fla.--(BUSINESS WIRE)--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 2011 increased 8% to $205.4 million from $190.5 million in 2010. Diluted earnings per share for the year was $0.67 based on net income of $8.8 million. This compares with net income of $10.5 million or $0.80 diluted EPS a year ago. Net income for 2011 and 2010 included pre-tax legal expenses and compliance costs of $4.5 million and $1.3 million, respectively, related to the Department of Justice (DOJ) inquiry and settlement. Excluding the impact of these expenses, 2011 net income was $11.7 million or $0.89 diluted EPS compared with $11.3 million or $0.86 diluted EPS in 2010.