Alphtec Spine net revenue up 5% in Ql: 10 things to know

Spinal Tech

Alphatec Spine reported higher consolidated net revenue in the first quarter of 2015.

Here are 10 things to know:

 

1. The first quarter consolidated net revenues were up 5 percent over the same period last year.

 

2. International revenue grew 25 percent in constant currency over the first quarter of 2014 and represented 37 percent of global revenues as reported.

 

3. In the first quarter, the company launched the Arsenal spinal fixation system commercially in the United States, and received approval in Japan. The company also launched the Zodiac and Illico MIS in Brazil in April 2015.

 

4. The United States sales force's plan to expand into new metro areas is more than 75 percent complete.

 

5. The European Union sales distribution expansion is 50 percent complete.

 

6. The Untied States net revenues were down in the first quarter 4.9 percent, reaching $30.5 million. International net revenues were up 6.2 percent to $18.2 million.

 

7. The consolidated gross profit was $32.9 million and gross margin was 67.7 percent.

 

8. The gross profit declined 1.1 percent from the first quarter of 2014, primarily due to the lower United States sales volume.

 

9. The company reiterated full year 2015 constant currency revenue growth guidance of around 4 percent to 7 percent over 2014, in the range of $215 million to $222 million.

 

10. The expected annual adjusted EBITDA of $34 million to $37 million, a 10 percent to 20 percent growth over last year.

 

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