Orthofix's BioStim segment was a primary driver in the company's net sales growth in the second quarter.
Here are 15 key notes:
1. During the second quarter, net sales reached $104.1 million, up 3.1 percent from the same period of 2015.
2. The company's BioStim segment generated nearly $44.758 million in net sales due to rising order counts from a wider customer base and cash process improvements.
3. Orthofix's extremity fixation segment had net sales reaching $26.917 million, up 4.8 percent from the same period last year.
4. The spine fixation segment's net sales were down 5.9 percent, hitting $18.244 million as the company lost various U.S. surgeon customers, experienced poor timing in international cash collections and was excluded from a large national hospital account.
5. The company's gross profit reached $81.6 million, up from $2.5 million in the same period last year.
6. Orthofix's gross margin rallied to 78.4 percent from 78.3 percent during the second quarter of 2015.
7. The company's net margin was $84.2 million, up from $74.1 million in the second quarter the year prior.
8. Orthofix's operating loss totaled $2.6 million, less than $4.9 million in the same quarter last year.
9. Net loss from continuing operations was $6.3 million, or $0.35 per share, for the second quarter.
10. Adjusted net income from continuing operations was $7.5 million, up from $6.3 million the same period last year.
11. The company's EBITDA was $2.6 million, down from $11 million last year in the second quarter.
12. Orthofix had cash and cash equivalents of $40.5 million as of June 30, 2016.
13. For 2016, Orthofix expects net sales between $412 million and $416 million, and adjusted EBITDA to fall between $69 million and $72 million.
14. Orthofix expects net income from continuing operations between $9 million and $13 million for 2016.
15. For 2016, Orthofix expects earnings per share from continuing operations between $0.48 and $0.68.
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