30 Day Trial
BARE BONES logo

BARE BONES content is posted to these pages in real time.

Monthly compilations are available in PDF form.

Product / Company Performance

Integra LifeSciences Reports 2Q19 Orthopedic Revenue of $21.8MM, -1.2% vs. 2Q18 -

By Mike Evers, ORTHOWORLD

 

New product introductions and a dedicated orthopedics sales channel have Integra LifeSciences positioned for mid-single digit growth in the second half of 2019.

  • Orthopedic sales impacted by case scheduling delays in high volume accounts.
  • While still negative, sales of lower extremity fixation products increased sequentially to help stabilize that business, driven largely by the Panta 2 Nail.
  • Growth in joint replacement driven by ankle and shoulder products.
  • Company leadership expects mid-single-digit growth in orthopedics in the second half of the year, due to the newly established dedicated sales channel.
  • To achieve growth acceleration in the second half, the company has increased manufacturing capacity and resources allotted to entering new markets.

 

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

  2Q19 2Q18 $ Chg % Chg
Joint Replacement Extremities $9.1 $9.0 $0.1 1.3%
Trauma $12.6 $13.0 -$0.4 -2.8%
Total  $21.8 $22.0 -$0.3 -1.2%
  1H19 1H18 $ Chg % Chg
Joint Replacement Extremities $18.2 $18.1 $0.1 0.7%
Trauma $26.2 $26.6 -$0.3 -1.3%
Total  $44.4 $44.7 -$0.2 -0.5%

 

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

Geographic Region 2Q19 2Q18 $ Chg % Chg
US $15.3 $15.2 $0.1 0.6%
Ex-US $6.4 $6.8 -$0.4 -5.2%
   EMEA $3.2 $3.2 $0.0 -1.2%
   Asia Pacific $2.2 $2.3 -$0.1 -3.6%
   Rest of World $1.1 $1.3 -$0.2 -17.6%
Total $21.8 $22.0 -$0.3 -1.2%

 

Net earnings, inclusive of all revenue, are as follows ($MM).

2Q19 Amt % of Sales
Sales $383.6  
   Cost of Sales -$143.7 37.4%
   Selling and Admin -$165.4 43.1%
   R & D -$17.6 4.6%
   Other -$27.2 7.1%
Net Earnings $29.7 7.8%

 

Sources: Integra LifeSciences; ORTHOWORLD estimates.

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

This article is a Member-only item of content. Members, please log in to read the complete post.
If you are not yet a Member, click here to learn more about purchasing ORTHOWORLD Membership.