Five things to know:
1. Full-year sales hit $713 million in 2018, a 12.1 percent increase over 2017. Fourth quarter sales were up 11.3 percent to $195.9 million.
2. Net income for the year was $156.5 million, reaching nearly 22 percent of sales.
3. Spine product sales hit $665 million for the year while emerging products, including the company’s ExcelsiusGPS, reported $47 million in sales.
4. Sales in the United States hit $593.8 million last year, and international sales were $119 million.
5. Globus Medical projects 2019 sales will hit $770 million.
“The fourth quarter marked the fifth consecutive quarter of double-digit organic revenue growth, which is particularly outstanding considering the strong comparable quarter last year,” said CEO Dave Demski. “Emerging technologies delivered $14.7 million, or 34 percent growth, a significant accomplishment given the pent-up demand implicit in the fourth quarter of 2017 when we launched our robotic system. The U.S. spinal implant business grew by over 9.4 percent year over year, continuing the acceleration we saw in the third quarter, driven by robotic implant pull through and strong recruiting.”
More articles on spine devices:
21 spine devices receive FDA 510(k) clearance in January
SeaSpine & Implanet enter strategic partnership: 3 insights
NuVaisve 2018 revenue up 7.3% to $1.1B, to debut robotics platform in September: 5 things to know
