GAINESVILLE, Fla.--(BUSINESS WIRE)--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 $51.7 million for the second quarter of 2011, a 9% increase over $47.6 million in the second quarter of 2010. Net income decreased 9% to $2.7 million, or $0.21 per diluted share, compared to $3.0 million, or $0.23 per diluted share, in the same quarter a year ago. Net income for the quarter, excluding Health Care Professional (HCP) compliance expenses of $1.5 million related to the Department of Justice (DOJ) settlement, increased 13% to $3.7 million or $0.28 EPS.