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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