K2M announced 3Q17 preliminary revenue of US $62.7MM, +5.8% from 3Q16 revenue of $59.3MM. U.S. revenue is expected to be ~$48.5MM, +5.0%, and ex-U.S. revenue ~$14.2MM, +6% vs. the prior year.
The mid-single-digit performance follows K2M’s revenue growth of +9.9% in 1Q17 and +10.9% in 2Q17. Performance in 3Q17 was affected by slow acceleration in new U.S. distribution as well as weather-related disruptions. Strong July and August deformity activity was offset by headwinds in September. In the U.S., degenerative product sales were bolstered by new products—including 3D-printed devices—though partially offset by lower procedure volumes compared to 3Q16.
New full-year guidance reflects 3Q’s softer sales performance and the effect of U.S. distribution issues, as well as ~$2.0MM in weather-related disruptions. The new total revenue range is $255.0MM to $257.0MM, down from $263.0MM to $270.0MM.
K2M announced 3Q17 preliminary revenue of US $62.7MM, +5.8% from 3Q16 revenue of $59.3MM. U.S. revenue is expected to be ~$48.5MM, +5.0%, and ex-U.S. revenue ~$14.2MM, +6% vs. the prior year.
The mid-single-digit performance follows K2M's revenue growth of +9.9% in 1Q17 and +10.9% in 2Q17. Performance in 3Q17 was affected by slow acceleration...
K2M announced 3Q17 preliminary revenue of US $62.7MM, +5.8% from 3Q16 revenue of $59.3MM. U.S. revenue is expected to be ~$48.5MM, +5.0%, and ex-U.S. revenue ~$14.2MM, +6% vs. the prior year.
The mid-single-digit performance follows K2M’s revenue growth of +9.9% in 1Q17 and +10.9% in 2Q17. Performance in 3Q17 was affected by slow acceleration in new U.S. distribution as well as weather-related disruptions. Strong July and August deformity activity was offset by headwinds in September. In the U.S., degenerative product sales were bolstered by new products—including 3D-printed devices—though partially offset by lower procedure volumes compared to 3Q16.
New full-year guidance reflects 3Q’s softer sales performance and the effect of U.S. distribution issues, as well as ~$2.0MM in weather-related disruptions. The new total revenue range is $255.0MM to $257.0MM, down from $263.0MM to $270.0MM.
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