Carlsbad, Calif.-based SeaSpine reported preliminary financial results for the fourth quarter as well as the full year of 2016.
Here are seven highlights:
1. The company anticipated preliminary and unaudited revenue to hit between $32.5 million and $32.7 million for Q4 2016. This range reflects about a 6 percent decrease compared to Q4 2015.
2. SeaSpine expects spinal hardware revenue to account for about $15.9 million and orthobiologics revenue to hit $16.7 million.
3. Total U.S. revenue likely decreased about 4 percent to $29.9 million in Q4 2016, compared to Q4 2015.
4. For FY 2016, SeaSpine expects preliminary and unaudited revenue to reach between $128.8 million and $129 million.
5. The company's cash and cash equivalents at Dec. 31, 2016, will likely reach $14.6 million.
6. Outstanding borrowings under the credit facility will be about $3.8 million.
7. SeaSpine will release full-year 2017 revenue guidance in March 2017.