The increased income was driven by revenues and gross margin increases as a result of the company's direct operation transitions and international markets. Research and development expenses increased 18 percent to $2.1 million, prompting a 29 percent increase in operating profit.
The company's knee implant revenue increased 1 percent to $21.5 million while the revenue from extremities and hip business lines both increased 37 percent. Conversely, the company's spine and biologic revenue decreased 13 percent to $6.2 million.
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Exactech Hip & Knee Revenue Up, Spine Drops 13% FeaturedWritten by Laura Miller | May 02, 2012
Exactech reported net income of $3.3 million during the first quarter of 2012, a slight increase over the same period in 2011.
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