RTI Biologics reported an 8 percent drop in first quarter revenue for 2013 when compared with 2012, due to weakness in the sports medicine, bone graft substitutes and the general orthopedic businesses. However, some of the losses were offset by high revenues in the spine market. International revenues were down 27 percent during the first quarter, as well as a drop in net income from the same period last year. The revenues were in line with expectations, according to RTI President and CEO Brian K. Hutchinson, who attributed the revenue decline to a challenging environment and international revenues that were negatively impacted by "inaccuracies in European media coverage about the company and the tissue industry."
The company expects revenues between $42 million and $43 million during the second quarter of 2013, and plans to introduce new implants later this year.
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