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Product / Company Performance

Integra LifeSciences Reports 1Q19 Orthopedic Revenue of $22.7MM, +0.2% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

Integra LifeSciences reported 1Q19 orthopedic revenue of USD $22.7MM, +0.2% vs. 1Q18.

  • Achieved growth one quarter ahead of schedule, as orthopedics were expected to generate revenue growth in the second half of 2019
  • Introduction of new products and improved salesforce effectiveness drove growth
  • New products included Titan Reverse Shoulder and Panta 2 Arthrodesis Nail systems
  • Double-digit growth in ankle and shoulder products (the latter +20%)
  • EMEA sales declined due to expected disruption during ERP conversion

 

Segment sales and growth on an as-reported basis are as follows ($MM).

  1Q19 1Q18 $ Chg % Chg
Joint Replacement Extremities $9.3 $9.1 $0.2 2.7%
Trauma $13.4 $13.6 -$0.2 -1.4%
Total $22.7 $22.6 $0.0 0.2%

Sales by geographic region are as follows ($MM).

Geographic Region 1Q19 1Q18 $ Chg % Chg
US $16.2 $15.8 $0.4 2.6%
Ex-US $6.5 $6.9 -$0.4 -5.3%
   EMEA $3.07 $3.28 -$0.2 -6.5%
   Asia Pacific $2.25 $2.27 $0.0 -0.7%
   Rest of World $1.17 $1.31 -$0.1 -10.0%
Total $22.7 $22.6 $0.0 0.2%

Net earnings, inclusive of all revenue, are as follows.

1Q19 Amount ($MM) % of Sales
Sales $359.7  
   Cost of Sales -$128.9 35.8%
   Selling and Admin -$174.9 48.6%
   R & D -$18.3 5.1%
   Other -$4.8 1.3%
Net Earnings $32.8 9.1%

 

Sources: Integra LifeSciences; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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