8 Spine Device Company 2Q Financial Reports FeaturedWritten by Laura Miller | August 14, 2012
Here are financial reports from the spine business of eight orthopedic and spine device companies for the second quarter of 2012 or the fourth quarter of the 2012 fiscal year.
Alphatec Spine (Down 5.2 percent). Alphatec Spine announced second quarter net revenue of $48.2 million, a 5.2 percent decrease over the same period last year. United States revenues were down from $34.5 million last year to $32.6 million this year. However, the company reported strong sales of its new anterior cervical plate, Trestle Luxe, and biologics products.
Biomet Spine (Up 5 percent). Biomet reported net sales of $739.5 million in the fourth quarter of the 2012 fiscal year, a 3 percent increase over last year. The company's spine and bone healing business grew 5 percent to $83.9 million. For the year's end, the large joint reconstructive business reached $1.6 billion, but the spine and bone healing products dropped 4 percent overall. The company reported $229.2 million in adjusted operating income and an operating loss of $378 million during the forth quarter. This is significantly less than the operating loss from the same period last year, reported at $847.3 million. The company's large joint reconstructive business grew 3 percent and the sports, extremities and trauma grew 14 percent to $96.2 million.
Exactech (Down 1 percent). Exactech reported revenue of $55.2 million for the second quarter, a 7 percent increase over the same period last year. The company reported a 1 percent decrease in its biologic and spine business. The company's revenue from knee implants increased 1 percent and revenue from hip implants increased 22 percent. United States sales increased 8 percent to $35.2 million. The company outperformed expectations, according to chairman and CEO Bill Petty.
Integra LifeSciences (Up 4 percent). Integra LifeSciences reported $210.2 million revenue for 2Q, a 9 percent increase over the same period last year. The company's United States spine business reported a 4 percent decrease over the same period last year, reaching only $45.7 million. The United States orthopedics business grew 22 percent to $80.7 million but dropped 2 percent internationally. The company's U.S. neurosurgery market grew only 2 percent while the international market dropped 5 percent for a worldwide neurosurgery market decrease by 1 percent to $67.7 million.
NuVasive (Up 16.1 percent). Spine device company NuVasive reported $154.4 million in revenue during the second quarter, up 16.1 percent over the same period last year. The second quarter report showed gross profit of $117.9 million and gross margin of 76.3 percent. However, the company reported higher operating expenses during the second quarter, reaching $104.9 million, due to costs associated with higher revenue and infrastructure expansion. The company reported around $253,000 in net loss attributable to non-controlling interests.
Orthofix Spine (Up 7 percent). Orthofix reported $119.5 million in net sales for the second quarter, a 2 percent increase over the same period last year. The company's total spine business grew 7 percent over the same period last year, generating $81.8 million in net sales for the second quarter. The company reported net income at $14 million, up from $10.5 million over the same period last year. Its spine business reported $81.8 million in net sales, a 7 percent growth, while the orthopedics business dropping 6 percent to $37.7 million. Throughout the second quarter, the company saw increased use of the Trinity Evolution in spine applications, which led to a 48 percent increase in sales for the regenerative biologics business.
Stryker Spine (Up 12 percent). Stryker reported $325 million profit for the second quarter of 2012, a 4.6 percent increase over the same period last year. The company's neurology and spine business lines saw the greatest growth, a 12 percent increase over the previous year. The company also reported a 2.9 percent net sales increase to $2.1 billion. United States sales showed a 7.7 percent increase to $1.3 billion, while international sales declined 5.1 percent to $722 million. Knee sales grew 2.6 percent while hip sales were up 1 percent.
Zimmer Spine (Down 7 percent). Zimmer reported $1.1 billion in net sales for the second quarter, a 1.1 percent decrease over the same period last year. The company's reconstructive business reached $843 million in net sales, down 2 percent, and the spine business was down 7 percent. However, the company's trauma business rose 7 percent. Sales in the American market grew 1 percent to $614 million. Hip sales in the American market remained flat while knee sales declined 1 percent.
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