Several spine device companies and spine business lines of larger orthopedic device companies reported a net loss or decreased sales during the third quarter of 2013.
When compared with the same period last year, increases and success in sales and revenue were few and far between. Here is how the financial reports shaped up for their most recent financial quarter.
Alphatec Spine reported a loss of $14.5 million, which is a 287 percent increase over the same period last year. The loss corresponds with the company's decision to discontinue the PurGen Osteoprogenator Cell Allograft from its product portfolio after making a significant investment in clinical trials.
Biomet reported net income of $31.1 million during the first quarter of 2013, despite spine sales dropping 6.6 percent over the same period last year. The company reported $31.5 million in losses, with sports medicine, extremities and trauma devices making up much of the profits.
Johnson & Johnson's orthopedics business, which includes DePuy Synthes Spine, reported a small drop in sales during the third quarter when compared with the same period last year. However, the financial report for the nine-months end puts the orthopedics business sales up 30 percent from the same period in 2013.
Exactech's spine and biologics sales reported a 1 percent increase to $6 million during the third quarter of 2013 when compared to the same period last year. Overall, the company's net income rose 25 percent to $3.2 million with large increases in extremity implant sales.
LDR Holdings reported a third quarter of net loss, reaching nearly $8 million for the third quarter of 2013. The company attributes the loss in part to $4.7 million in noncash expenses for the revaluation of warrants leading to its initial public offering, which it announced plans for in September.
Mazor Robotics reported a net loss of $3.5 million during the third quarter of 2013 and ended the quarter with 30 Renaissance Systems in stalled in the U.S., 56 installed globally. The company closed its public offering in November of $46.92 million in gross proceeds. Revenue at the nine-months end was up 51 percent over the same period last year, reaching $14.3 million.
Medtronic reported net earnings up 39 percent in the second quarter of the 2014 fiscal year, to $902 million, but spine sales remain on a steady decline. The company's Core Spine business reported $421 million for the second quarter, down from $430 million in the first quarter, and BMP sales plummeted from $119 million in the second quarter of 2013 to $96 million in the second quarter of 2014.
NuVasive reported a 250 percent increase in net income for the third quarter of 2014, reaching $7.3 million. The company reported $169 million in total third quarter revenue with spine revenue jumping 16 percent to $131 million and monitoring services and biologics experiencing modest increases.
SpineGuard reported $1.65 million in net losses during the first six months of 2013, but this was an improvement over the $300,000 net loss the company experienced over the same period in 2012. The company sold 3,000 units of its PediGuard system during the first half of the year, with 49 percent being sold to U.S. Companies.
Stryker reported a drop in net earnings during the third quarter, going from $353 million last year to $103 million this year. However, net sales were up 4.8 percent and the company's spine device sales grew 4.1 percent during the third quarter.
Zimmer Holdings reported a 4.8 percent net sales increase to $1.07 billion in the third quarter, but decrease in net earnings to $154.4 million when compared with the same period last year. The company's spine device sales were down 3.6 percent compared with the same period last year.
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