Tags

, , , , , , , , , , , , , , , ,


14 Orthopedic & Spine Device Company Financial Reports.

14 Orthopedic & Spine Device Company Financial Reports 

Written by  Laura Miller | August 06, 2012

Here are the latest financial reports from orthopedic- and spine-driven device companies.
If you have questions or comments for this list, please contact Laura at lmiller@beckershealthcare.com.

ArthroCare (Flat). ArthroCare’s total revenue for the second quarter remained flat, increasing only 0.5 percent over the same period last year. The company reported revenue of $91.7 million for the second quarter of 2012, up from $91.3 million in 2011. Worldwide sales of the company’s sports medicine products increased 1 percent and reached $1.7 million in the American market. International sports medicine product sales decreased 5.5 percent during the second quarter as a result of the U.S. dollar strengthening against the euro, British pound and Australian dollar.

Biomet (Up 3 percent). Biomet reported net sales of $739.5 million in the fourth quarter of the 2012 fiscal year, a 3 percent increase over last tear. The company reported $229.2 million in adjusted operating income and an operating loss of $378 million during the forth quarter. This is significantly less than the operating loss from the same period last year, reported at $847.3 million. The company’s large joint reconstructive business grew 3 percent and the sports, extremities and trauma grew 14 percent to $96.2 million. The company’s spine and bone healing business grew 5 percent to $83.9 million. For the year’s end, the large joint reconstructive business reached $1.6 billion, but the spine and bone healing products dropped 4 percent overall.

DJO Global (Up 2.9 percent). DJO global reported $286 million in net sales for the second quarter, a 2.9 percent increase over the previous year. However, the company also reported $19 million in net loss. The company’s surgical implant sales grew 10.2 percent to $18.1 million, due to strong sales of new products, including the OA Nano osteoarthritis knee brace, Turon Shoulder System, RSP Monoblock Shoulder System and the Revelation MicroMAX hip system. However, the international sales during the second quarter decreased 3.6 percent from the prior year.

Exactech (Up 7 percent). Exactech reported revenue of $55.2 million for the second quarter, a 7 percent increase over the same period last year. The company reported a 1 percent decrease in its biologic and spine business. The company’s revenue from knee implants increased 1 percent and revenue from hip implants increased 22 percent. United States sales increased 8 percent to $35.2 million. The company outperformed expectations, according to chairman and CEO Bill Petty.

Integra LifeSciences (Up 9 percent). Integra LifeSciences reported $210.2 million revenue for 2Q, a 9 percent increase over the same period last year. The company’s United States spine business reported a 4 percent decrease over the same period last year, reaching only $45.7 million. The United States orthopedics business grew 22 percent to $80.7 million but dropped 2 percent internationally. The company’s U.S. neurosurgery market grew only 2 percent while the international market dropped 5 percent for a worldwide neurosurgery market decrease by 1 percent to $67.7 million.

Johnson & Johnson Orthopaedics (Up 10.8 percent). Johnson & Johnson, parent company of DePuy Orthopaedics and Synthes, reported worldwide orthopedics sales of $1.6 billion, a 10.8 percent increase overall. The company’s United States orthopedics sales were up 13.4 percent to $873 million and international sales reached $755 million. The company closed its acquisition of Synthes earlier this year, which contributed 2.9 percent to overall worldwide operational sales growth.

MAKO Surgical (Up 27 percent). MAKO Surgical reported $23.7 million in second quarter revenue, a 27 percent increase over the same period last year. However, the company also reported a net loss of $8,521. Nine of the company’s RIO systems were sold in the second quarter and 2,590 MAKOplasty procedures were preformed in the second quarter, representing a 66 percent increase over the same period last year. There were nine MAKOplasty Total Hip Arthroplasty applications sold during the second quarter, and as of June 30, 58 percent of the company’s commercial domestic installed base had the THA application.

MiMedx (Up 153 percent). MiMedx Group reported $4.9 million in revenue for the second quarter of 2012, reportedly a 153 percent increase over the past year. The increase is attributed to the increasing demand and sales for the company’s AmnioFix and EpiFix allografts. However, the company reported more than $744,000 in net loss for the second quarter and $1.8 million net loss for the first six months of the year.

NuVasive (Up 16.1 percent). Spine device company NuVasive reported $154.4 million in revenue during the second quarter, up 16.1 percent over the same period last year. The second quarter report showed gross profit of $117.9 million and gross margin of 76.3 percent. However, the company reported higher operating expenses during the second quarter, reaching $104.9 million, due to costs associated with higher revenue and infrastructure expansion. The company reported around $253,000 in net loss attributable to non-controlling interests.

Orthofix (Up 2 percent). Orthofix reported $119.5 million in net sales for the second quarter, a 2 percent increase over the same period last year. The company reported net income at $14 million, up from $10.5 million over the same period last year. Its spine business reported $81.8 million in net sales, a 7 percent growth, while the orthopedics business dropping 6 percent to $37.7 million. Throughout the second quarter, the company saw increased use of the Trinity Evolution in spine applications, which led to a 48 percent increase in sales for the regenerative biologics business.

RTI Biologics (Up 4 percent). RTI Biologics reported a 4 percent increase in quarterly revenues to $45.2 million. The company’s surgical specialties business reported $8.5 million, an 18 percent increase, and the bone graft substitutes and general orthopedics business revenues reached $7 million. The company’s sports medicine business reported a 10 percent increase to $13.3 million.

Stryker (Up 2.9 percent). Stryker reported $325 million profit for the second quarter of 2012, a 4.6 percent increase over the same period last year. The company also reported a 2.9 percent net sales increase to $2.1 billion. The company’s neurology and spine business lines saw the greatest growth, a 12 percent increase over the previous year. United States sales showed a 7.7 percent increase to $1.3 billion, while international sales declined 5.1 percent to $722 million. Knee sales grew 2.6 percent while hip sales were up 1 percent.

Symmetry Medical (Up 8 percent). Symmetry Medical reported an 8 percent increase in second quarter revenue, reaching $102.3 million. The company’s growth was driven by the Symmetry Surgical segment, which was offset by a decline in sales from the OEM Solutions segment. The company reported operating income of $8.1 million and net income of $16 million, which was down 19 percent from the previous year. The company’s implants business decline by 5 percent and the instruments revenue was down 8 percent.

Zimmer Holdings (Down 1.1 percent). Zimmer reported $1.1 billion in net sales for the second quarter, a 1.1 percent decrease over the same period last year. The company’s reconstructive business reached $843 million in net sales, down 2 percent, and the spine business was down 7 percent. However, the company’s trauma business rose 7 percent. Sales in the American market grew 1 percent to $614 million. Hip sales in the American market remained flat while knee sales declined 1 percent.
Advertisements