Globus Medical released its preliminary 2017 fourth quarter and full year sales results.
Here are five insights:
1. The medical device company expects fourth quarter, ending Dec. 31, 2017, sales to reach $175.5 million, a 15.8 percent increase compared to the 2016 fourth quarter.
2. With 12.7 percent in full year sales, Globus Medical anticipates to report $635.4 million in 2017 sales.
3. Globus Medical developed a full year 2018 guidance of $690 million in sales and $1.50 fully diluted non-GAAP earnings per share.
4. The company’s international business sector grew 16.3 percent year-over-year with Japan leading the development.
5. Globus Medical CEO Dave Demski noted the growth as “100 percent organic” and that the U.S. spine sales continue to show mid-single-digit growth.