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Zimmer 1st-Quarter Profit Rises Amid Lower Operating Expenses

Zimmer Holdings Inc.'s (ZMH) first-quarter earnings rose 4.3% as the orthopedic-products maker recorded a drop in operating expenses, though revenue edged down slightly as the latest period included two fewer billing days in certain key markets.Like its peers in the orthopedics industry, Zimmer has faced a weak domestic market for reconstructive hip and knee products as people delay surgeries in a still-uncertain economic environment. In recent quarters, however, there are signs the declines are stabilizing.Earlier this month, rival orthopedic-medical-device maker Biomet Inc. reported its fiscal third-quarter loss widened as the company was bogged down by a large write-down, although revenue continued to climb and core earnings strengthened. And Stryker Corp.'s (SYK) first-quarter earnings fell 13% as the company was hurt by product-recall-related charges and other items that offset sales growth.Zimmer reported a profit of $218.6 million, or $1.28 a share, up from $209.6 million, or $1...

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