TranS1, a Wilmington, N.C.-based spine device company, reported total revenue of $5.2 million during the second quarter of 2011, a nearly $2 million decrease from the same time last year, according to a company news release.
Ken Reali, president and CEO of TranS1, attributes the company's 26 percent decrease in quarterly revenue to ongoing physician reimbursement pressures. The company experienced a decrease in procedure volume of its AxiaLIF, which recently had three peer reviewed clinical studies accepted for publication. The company also launched two new products during this quarter, which expand the product portfolio.
Domestic revenues were $4.9 million during the second quarter of 2011, a decrease from the $6.7 million reported during the second quarter of 2010.Net loss also increased from $3.6 million last year to $4.3 million this year.
Read the release on TranS1.
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Domestic revenues were $4.9 million during the second quarter of 2011, a decrease from the $6.7 million reported during the second quarter of 2010.Net loss also increased from $3.6 million last year to $4.3 million this year.
Read the release on TranS1.
Related Articles on Orthopedic Device Companies:
MAKO Surgical 2Q Revenue Reaches $18.6M, 81% Increase
Alphatec Holdings Reports 2Q Revenue of $50.9M, 12% Increase
Wright Medical Group Reports 4% Net Sales Increase Driven by International Market Growth