RTI Surgical reported increased fourth quarter and full-year revenue for 2018.
Six things to know:
1. Fourth quarter revenue reached $71.2 million, compared to $70.8 million over the same period in 2017. Worldwide revenue was up 0.5 percent for the full year, hitting $280.9 million.
2. Gross profit in the fourth quarter was $38.7 million, reaching 54.4 percent of revenues. At the end of the full year, gross profit was $140.1 million, reaching 49.9 percent of revenues.
3. For the full year, RTI surgical reported a net loss of $3.4 million. However, the net income applicable to common shares was $2.1 million for the fourth quarter.
4. Last year, RTI Surgial incurred $4.9 million in acquisition and integration costs, acquiring both Zyga Technologies and Paradigm Spine. The company also reported $2.3 million in severance and restructuring.
5. Full-year adjusted EBITDA was $33.7 million, 12 percent of revenue.
6. In 2019, RTI Surgical expects revenue to hit $325 million to $335 million, a 15 percent to 19 percent year-over-year growth. The projections assume Paradigm Spine's acquisition will be complete in March and there will be sustained favorable reimbursement from private payers.