RTI Surgical reported a revenue increase in the first quarter of 2015, as well as a net loss.
"We saw solid growth in the first quarter, exceeding our expectations and keeping us on track for the year," said President and CEO Brian K. Hutchinson. "Our growth was in line with the plan we laid out for our three major areas of focus, mentioning in our fourth quarter and year-end earnings call."
Here are 10 things to know about the company's financial report.
1. RTI Surgical reported $2.9 million net loss in the first quarter.
2. Revenue reached $68 million, a 12 percent increase over the same period of last year.
3. The spine business revenue was up 2 percent to $19.4 million, and the direct spine business was up 20 percent.
4. BGS and general orthopedic business revenue was up 34 percent to reach $10.9 million.
5. The orthofixation business revenue was up $10.6 million, a 42 percent increase over the same period last year.
6. RTI Surgical raised full year guidance for 2015 to expect revenue at $281 million to $286 million.
7. The full year net income per fully diluted common share is expected to reach $0.19 to $0.23 based on 58.2 million fully diluted common shares outstanding.
8. Second quarter 2015 revenues are expected to reach $70 million to $71 million.
9. There was strong first quarter growth in the direct distribution business.
10. Mr. Hutchinson said the company will continue to control spending to improve the margins.