RTI Surgical sees double-digit growth in spine business in FY 2016: 11 highlights

Written by Megan Wood | February 23, 2017 | Print  |

Alachua, Fla.-based RTI Surgical reported its full-year and fourth quarter 2016 financial results.

The company anticipates full-year 2017 revenues to fall between $274 million and $285 million.

 

Q4 2016 results

 

1. RTI experienced a net loss of $12 million or $0.21 per fully diluted share.

 

2. The company's worldwide revenues totaled $71.3 million, reflecting a 6 percent decrease from the same period the year prior.

 

3. RTI's domestic revenues totaled $64.6 million, representing a 9 percent decrease from Q4 of 2015.

 

4. International revenues totaled $6.8 million, reflecting a 24 percent increase from the same period the year prior, due to spine growth in Asia.

 

5. Direct revenues increased 22 percent to $44.5 million.

 

6. The company's spine business continues to grow, due to increases in surgeon users and distributor relationships.

 

Full-year 2016 results

 

7. Worldwide revenue increased to $272.9 million, down 3 percent from 2015 revenues.

 

8. Domestic revenues decreased 5 percent to $247.8 million from last year.

 

9. The company's international revenues rose to $25.1 million, reflecting a 15 percent increase compared to 2015 revenues. On a constant currency basis, 2016 international revenues increased 15 percent compared to 2015 revenues.

 

10. The year saw direct revenues of $160.8 million, a 16 percent increase from 2015 direct revenues.

 

11. RTI saw double-digit growth in its spine, surgical specialties, cardiothoracic and international businesses.

 

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