By Max Bernhard

Zimmer Biomet Holdings Inc (ZBH) on Friday reported a loss in the fourth quarter, hit by litigation and goodwill impairment charges.

The Warsaw, Ind.-based medical-device company reported a quarterly loss of $901.1 million, or $4.42 a share, compared with a profit of $1.23 billion, or a $6.03 a share, for the same period last year. Excluding items, Zimmer Biomet reported an adjusted profit of $2.18 a share for the quarter, compared with $2.10 a share last year and analysts' forecasts of $2.17 a share.

"The company's diluted loss per share included goodwill impairment charges of $4.78 per share and legal charges of 59 cents per share primarily related to a previously disclosed patent litigation matter," the company said in a release.

Sales stayed flat at $2.07 billion.

Chief Executive Bryan Hanson said, "Overall, our financial results for the full year were in-line with our expectations for the progress of the turnaround of the business, and increase our confidence in achieving our 2019 objectives."

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

February 01, 2019 06:35 ET (11:35 GMT)

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