Surgical implant company RTI Surgical reported on its 2017 first quarter operating results and projected significant growth in the coming year.
Here are five things to know:
1. The company reported double-digit revenue growth in its spine, surgical specialties and cardiothoracic segments.
2. In the midst of a restructuring program, RTI expects to save $8 million annually starting in the second quarter of this year.
3. Worldwide revenues increased 4 percent from last year's Q1 to this year's $69.9 million.
4. Domestic revenues increased by 3 percent to $63.3 million while international revenue increased 8 percent to $6.6 million.
5. The company expects 2017 full-year revenue to be between $274 million and $285 million.
Camille Farhat, who became RTI CEO on March 15, 2017, said, "Although we are in the initial phases of this evaluation, there are three central themes that standout: 1. continue investment in our spine business and build scale; 2. increase investment in our commercial business to drive innovation and create new growth opportunities, and 3. improve margins of our tissue-based implants."
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