SeaSpine reports $17.7M net loss in Q2: 8 key notes

Written by Laura Dyrda | August 14, 2015 | Print  |

SeaSpine reported $33.5 million in revenue for the second quarter of 2015, a 6 percent decrease over the same period last year.

Here are eight key points

 

1. Orthobiologics revenue is projected to increase 1 percent to $17 million.

2. The spinal fusion hardware revenue will be down 13 percent to $16.5 million for the second quarter.

 

3. Gross profit for the second quarter was 56.6 percent, a slight decrease compared to the same period last year. Operating expenses increased $9.5 million to $35 million.

 

4. Research and development expenses were relatively flat at $2 million for the second quarter.

 

5. Net loss was $17.7 million, up from a $5.4 million net loss over the same period last year.

6. Full-year revenue is expected to reach $133 million to $139 million, flat or down 4 percent compared with the same period last year. This is unchanged from the previous guidance Integra LifeSciences projected.

7. SeaSpine became an independent company July 1 and is investing in innovation and growth initiatives. The orthobiologics platform is the leading platform.

8. The company does not expect to incur significant amounts of spinoff and transition service costs in future years.

 

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