Globus Medical reported preliminary fourth quarter and full year results for 2014, with estimated sales increasing.
"Looking to 2015, we are confident in our ability to continue to grow our business faster than the overall spine market while maintaining industry-leading profitability," said David Paul, Chairman and CEO of Globus Medical.
Here are seven key takeaways form the report:
1. Fourth quarter sales were around $128.5 million, an 11.5 percent increase over the same period last year.
2. Full-year 2015 sales are estimated at $474 million, a 9.1 percent increase over 2013. This number also exceeds the company's previous guidance.
3. Globus expects 2015 sales to reach around $510 million.
4. Projected earnings per fully diluted share in 2015 are at $1.01.
5. The fourth quarter sales reflect the "effective execution of our strategy" — growing business by expanding the sales force and releasing 16 products, according to Mr. Paul.
6. The company invested in its robotics division throughout 2014.
7. Globus also completed an acquisition of Transplant Technologies of Texas during the fourth quarter.