Exactech Comments on Impact of Hurricanes Irma and Harvey; Adjusts Q3 Earnings Guidance and Announces Q3 Earnings Call

GAINESVILLE, Fla.--(BUSINESS WIRE)--Exactech,
Inc.
(Nasdaq: EXAC), a developer and producer of bone and joint
restoration products and biologic solutions for extremities, knee and
hip, said today it is adjusting guidance for the third quarter of 2017
as a result of the impact of Hurricanes Irma and Harvey.


CEO and President David Petty said the estimated US revenue impact of
the two hurricanes was approximately $1.2M to sales in Q3 across
Florida, Texas, Georgia and the Carolinas.

“We were fortunate that our facilities were undamaged during the
hurricanes. However, the storms caused our surgeon customers in the
affected states to postpone scheduled surgeries, directly affecting our
Q3 revenue stream. In addition, due to hurricane preparation procedures
at our Gainesville and Sarasota locations, our manufacturing and
shipping operations lost two days of operating capacity. As a result,
domestic revenues were near the bottom of our expectations. We now
expect to report approximately $61.4MM in worldwide revenue for the
third quarter. We also are adjusting our EPS guidance for the quarter to
$0.19-$0.21 per share, a reduction of approximately $0.04 per share from
our previously issued guidance of $0.23-$0.25 per share due to the net
income impact of these lower revenues as well as the impact of the
operations interruption,” Petty said.

The company will release its third quarter 2017 financial results on
Monday, October 30, 2017. A copy of the earnings release will be
available at http://www.hawkassociates.com.

The company will host a conference call with CEO David Petty and key
members of the management team on Tuesday, October 31 at 10:00 a.m.
Eastern Time. The call will cover Exactech’s third quarter 2017 results.
Mr. Petty will open the conference call and a question-and-answer
session will follow.

To participate in the call, dial 1-800-334-0872 any time after 9:50 a.m.
Eastern on October 31. International and local callers should dial
1-719-325-4845. A live webcast of the call will be available at http://www.hawkassociates.com/profile/exac.cfm
or http://public.viavid.com/index.php?id=126701.
This call will be archived for approximately 90 days.

About Exactech

Based in Gainesville, Fla., Exactech develops and markets orthopaedic
implant devices, related surgical instruments and biologic materials and
services to hospitals and physicians. The company manufactures many of
its orthopaedic devices at its Gainesville facility. Exactech’s
orthopaedic products are used in the restoration of bones and joints
that have deteriorated as a result of injury or diseases such as
arthritis. Exactech markets its products in the United States, in
addition to more than 30 markets in Europe, Latin America, Asia and the
Pacific. Additional information about Exactech, Inc. can be found at http://www.exac.com.
Copies of Exactech’s press releases, SEC filings, current price quotes
and other valuable information for investors may be found at http://www.exac.com
and http://www.hawkassociates.com.

An investment profile on Exactech may be found at http://www.hawkassociates.com/profile/exac.cfm.
To receive future releases in e-mail alerts, sign up at http://www.hawkassociates.com/about/alert.

This release contains various forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, which represent the company’s
expectations or beliefs concerning future events of the company’s
financial performance. These forward-looking statements are further
qualified by important factors that could cause actual results to differ
materially from those in the forward-looking statements. These factors
include the effect of competitive pricing, the company’s dependence on
the ability of third party manufacturers to produce components on a
basis which is cost-effective to the company, market acceptance of the
company’s products and the effects of government regulation. Results
actually achieved may differ materially from expected results included
in these statements.


Contacts

Exactech, Inc.
Investor contacts
Jody Phillips, 352-377-1140
Executive
Vice President of Finance &
Chief Financial Officer
or
Hawk
Associates
Julie Marshall or Frank Hawkins, 305-451-1888
EXAC@hawkassociates.com
or
Media
contact
Priscilla Bennett, 352-377-1140
Vice President,
Corporate & Marketing Communication