5 Spine Device Company 3Q Financial Reports FeaturedWritten by Laura Dyrda | Wednesday, 21 November 2012 10:37
Here are the financial reports from five spine-driven device companies for the third quarter of 2012.
Globus Medical (Up 12.5 percent). Globus Medical's third-quarter worldwide sales increased 12.5 percent, reaching $94.8 million. Increased sales were driven by growth from the company's disruptive technology products, which include minimally invasive surgical and lateral platform products. Globus Medical also reported quarter net income of $16.5 million, down slightly from $16.9 million in the same quarter last year.
Integra LifeSciences (Up 4 percent). Integra LifeSciences reported total revenue of $210.1 million, which was a 4 percent increase over the same period last year. The company's net income reached $24.6 million during the second quarter, a slight increased over the same period last year. The company generated $27.9 million in cash flow from operations and invested $19.7 million in capital expenditures during the third quarter. Orthopedics — including spine — sales topped $94.1 million while neurosurgery sales were reported as $69.6 million.
NuVasive (Up 11.7 percent). NuVasive reported $148.4 million in total third quarter revenue, an 11.7 percent increase over the same period last year. However, third quarter revenue was down 3.9 percent when compared with the second quarter of 2012. The company says this fall was driven by competitor discounts and an increase in coverage denials and delays by healthcare payors. Total operating expenses were lower in the third quarter when compared to the previous year.
TranS1 (Down 32 percent). TranS1 has reported third-quarter revenues of $3.2 million, a 32 percent decreased compared to the same period last year. The spine device company also saw declines in domestic revenues and gross margin and an increase in net losses. The company reported cash and cash-equivalents at $27.2 million for the third quarter and are preparing to re-launch its AxiaLIF in the fourth quarter in preparation for the Jan. 1, 2013 activation of its Category 1 code.
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