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Product / Company Performance

Orthofix Reports 1Q19 Revenue of $109.1MM, +0.4% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

 

Orthofix reported 1Q19 revenue of USD $109.1MM, +0.4% vs. 1Q18.

  • First U.S. implants of M6-C disc have taken place
  • Spine growth driven by Spinal Kinetics motion preservation products
  • Spine growth offset slightly by ongoing selective disruption of legacy salesforce as largest sales partners are moved into key geographies
  • Trauma impacted by several large orders that were delayed from 1Q to 2Q
  • Trauma grew slightly when viewed as trailing 12 months year-over-year
  • Biologics product volume increased by 20%, but was offset by low-single-digit ASP decline
  • fiberFUSE demineralized bone matrix released in limited launch
  • Bone growth therapies (categorized as Other below) grew on strength of increased order volume, but were offset by product mix

 

Segment sales and growth on an as-reported basis ($MM):

  1Q19 1Q18 $ Chg % Chg
Spine $22.9 $20.7 $2.2 10.6%
Trauma $23.2 $27.5 -$4.3 -15.7%
Orthobiologics $15.7 $14.3 $1.4 9.7%
Other * $47.3 $46.2 $1.1 2.4%
Total $109.1 $108.7 $0.4 0.4%

* Bone growth therapies

Sales by geographic region ($MM):

Geographic Region 1Q19 1Q18 $ Chg % Chg
US $86.12 $84.95 $1.2 1.4%
Ex-US $23.0 $23.8 -$0.8 -3.2%
Total $109.1 $108.7 $0.4 0.4%

Net earnings ($MM):

1Q19 Amount % of Sales
Sales $109.1  
   Cost of Sales -$23.7 21.7%
   Genereal and Admin -$20.5 18.8%
   Other -$1.11 1.0%
   R & D -$9.2 8.5%
   Selling and Marketing -$53.7 49.2%
Net Earnings $0.9 0.8%

 

Source: Orthofix

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

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