Bacterin International announced second quarter preliminary unaudited financial results.
Here are five key findings from the financial report:
1. Total net revenue for the second quarter is anticipated at $8.75 million to $8.85 million. This would be a 6 percent to 7 percent increase when compared with net revenue during the second quarter of 2013.
2. The gross margin is expected to fall between 61 percent to 63 percent. By comparison, the company reported a 57 percent gross margin drop over the same period last year. This year's numbers are in line with the company's guidance.
3. The company is expected to report operating loss of $1.5 million to $1.4 million during the second quarter. This is a 20 percent to 25 percent decrease over the second quarter of last year.
4. Preliminary EBITDA for the second quarter was in the range of $800,000 to $900,000, compared to $1.4 million reported over the same period in 2013.
5. Earlier this month, Bacterin appointed Robert Di Silvio as president of the company. He has more than 30 years of experience in executive management for the medical device industry.
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