Orthofix Reports Preliminary 4Q17, 2017 Revenue

Orthofix (OFIX) reported preliminary 4Q17 revenue of US $116.9MM, +7.7% vs. 4Q16, and 2017 revenue of $433.8MM, +5.9% vs. 2016. Full-year revenue exceeds the $431.0MM high end of guidance that was revised in 3Q17.

Priorities for 2018 include additional sales representation in under-served markets, as well as investments in R&D, new products and value-added servcies (e.g. JuniOrtho™ pediatric care support tools). Leadership noted that OFIX is well-positioned to acquire products, technologies and companies.

For 2018, the company published net sales guidance in a range of $450.0MM to $455.0MM.

Due to the lowered U.S. corporate tax rate, OFIX expects a one-time tax change of $8.0MM to $12.0MM in 4Q17.

An update on the company’s comments on the revised tax rate will be reported with final financial results in late February 2018.

Sources: Orthofix International N.V.; ORTHOWORLD Inc.