Alphatec Holdings, the parent company of Alphatec Spine, announced financial results for the fourth quarter and full year ended Dec. 31, 2014.
Here are seven things to know from the financial report:
1. Consolidated net revenues for the full year 2014 were $207 million as compared to $204.7 million reported for full year 2013, representing growth of 1.1 percent.
2. Consolidated net revenues for the fourth quarter of 2014 were $53.6 million, also representing growth of approximately 1.1 percent.
3. U.S. net revenues for full year 2014 were $137.1 million, up 1.6 percent, compared to $135 million reported for full year 2013.
4. U.S. net revenues for the fourth quarter of 2014 remained flat from fourth quarter of 2013 at $35.7 million.
5. International net revenues for full year 2014 were at $69.9 million — relatively flat as compared to full year 2013.
6. Consolidated gross profit for 4Q of 2014 was $37.7 million, and for full year 2014 was $143.4 million.
7. Alphatec Spine CEO also discussed the company's year. "2014 marked a transition year for Alphatec Spine," said Jim Corbett, president and CEO. "During the year, we substantially completed the restructuring of our French operations, settled the Orthotec litigation, strengthened our executive leadership team, and achieved record-level adjusted EBITDA."
More articles on devices:
Spine device company stock report: 5 key companies — Feb. 26
Invibio Spine's PEEK-OPTIMA HA Enhanced shows promise
JMEA Corporation wins grant from Montgomery County' economic development department