Revenue during the quarter grew 6.41 percent to $69.48 million from $65.30 million in the previous year period. Gross margin for the quarter expanded 149 basis points over the previous year period to 70.29 percent. Total expenses were 90.83 percent of quarterly revenues, up from 90.35 percent for the same period last year. That has resulted in a contraction of 49 basis points in operating margin to 9.17 percent.

Operating income for the quarter was $6.37 million, compared with $6.30 million in the previous year period.

Exactech chief executive officer and president David Petty said, "With three new revision systems now in full launch, we leveraged our sales channel and improvements in our supply chain to deliver a strong start to 2017. The innovative features of our Optetrak Logic CC revision knee and Alteon Monobloc hip systems continue to attract new surgeons, improve patient outcomes and post growth in those segments. Our extremities business continued to accelerate, attracting record attendance at our global medical education programs. At the ten-year clinical milestone, our Equinoxe reverse platform shoulder system remains a core driver of customer satisfaction while new products like our humeral reconstruction prosthesis contribute to a robust new customer pipeline."

For financial year 2017, Exactech, Inc. projects revenue to be in the range of $266 million to $272 million. It forecasts diluted earnings per share to be in the range of $1.24 to $1.30. It forecasts diluted earnings per share to be in the range of $1.26 to $1.32 on adjusted basis for the same period.

For the second-quarter, Exactech, Inc. projects revenue to be in the range of $66.50 million to $68.50 million. It forecasts diluted earnings per share to be in the range of $0.32 to $0.34 for the same period.