Warsaw, Ind-based Zimmer Biomet recently released its financial results for the first quarter of 2016, which ended March 31, 2016.

According to a media release from the company, its first quarter net sales were $1.90 billion, an increase of 67.8% on a reported basis and an increase of 1.2% on an adjusted pro forma, constant currency basis, compared to the first quarter of 2015. Diluted earnings per share for the quarter were $0.52 reported and $2.00 adjusted, an increase of 29.9% adjusted over the prior year period.

Net earnings for the first quarter were $105.9 million on a reported basis and $404.3 million on an adjusted basis, an increase of 51.5% adjusted over the prior year period. Operating cash flow for the first quarter was $265.2 million.

“We remain on pace to exit the year at or above market growth rates, driven by our focused commercial channel and the cross-selling opportunities across our market-leading musculoskeletal portfolio,” says David Dvorak, president and CEO of Zimmer Biomet, in the release.

For more information, visit Zimmer Biomet.

[Source(s): Zimmer Biomet Holdings Inc, PR Newswire]