Here are eight key notes on the company’s financial report:
1. Globus Medical reported worldwide sales increased 16.3 percent to $137 million in the third quarter. United States sales grew 17.9 percent over the same period last year, while international sales were up 1.2 percent.
2. Net income in the third quarter was up 14.8 percent to $26.5 million. Cash and cash equivalents and marketable securities ended the quarter at $300 million and Globus Medical remains debt free.
3. Gross profit for the third quarter was $103.9 million with operating income at $14.4 million.
4. Globus Medical reported $63.2 million in operating expenses. Research and development reported $9.4 million for the third quarter while selling, general and administrative expenses reached $53.8 million.
5. Globus Medical expects full year 2015 sales to reach $539 million with earnings per share reaching $1.07. This guidance takes into account expectations for a $5.5 million unfavorable impact of foreign currency exchange.
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