Implanet reported a jump in spine sales for the first half of 2015.
Here are five key notes:
1. The revenue was down 17 percent and the cost of products sold was down 12 percent compared to the same period last year.
2. Spine sales were up 66 percent in the first half of 2015 over the first half of 2014. International revenue was 55.1 percent of total sales and driven by the buoyant momentum in the United States.
3. The margin on products sold dropped 26 percent in the first half.
4. The spine sales accounted for 44 percent of total sales in the product mix and were up 88 percent in the United States. The United States accounted for 37 percent of spine sales, compared with 26 percent in the rest of the world. France also accounted for 37 percent of spine sales.
5. The gross margin was 34.3 percent, down 4.2 percent over the same period last year. The drop reflects increased JAZZ inventory because sales are constantly growing.
6. The company also strengthened its team with three new sales directors, a marketing and training director, two independent board members and a medical advisor in the first half of the year.
"This development naturally goes hand-in-hand with an increase in operating expenses, and we are confident that JAZZ sales will continue to grow at a similar pace to what we have just seen," said CEO Ludovic Lastennet. "We are particularly confident that our current growth rate will continue, which should notably be observed over the current quarter."