Aurora Spine Corp. reported financial results for the three and nine months ended Sept. 30.
Here are four highlights from the third quarter 2017:
1. The company saw revenues of about $1.68 million, a 3 percent boost from the same period the year prior.
2. The increase in revenues came from a $434,000 sales growth of lumbar cages and screws.
3. The company experienced a $140,000 sales decrease of cervical cages and $243,000 sales decrease in ZIP devices sales.
4. Aurora Spine reported operating expenses of $1.03 million, reflecting a 22 percent decrease from the third quarter of 2016.
The following are two highlights from the first nine months of 2017:
5. Aurora Spine reported revenues of $4.64 million, an 8.5 percent drop from the same period the year prior.
6. The decrease in revenues was due to a $419,000 drop in sales of biologics as well as a $428,000 decrease in ZIP sales.
In the fourth quarter, Aurora Spine will hone in on the following:
7. Expand the revenue base with the addition of new surgeons under the company's original distribution and pricing model.
8. Increase the direct sales teams in the U.S.
9. Collaborate with other spine product manufacturers to boost its sales and product portfolio.