Globus Medical sees 2017 sales of $636M — 14 takeaways

Written by Megan Wood | February 22, 2018 | Print  | Email

Globus Medical reported its 2017 fourth quarter and full-year financial results.

The company made its first sales of the ExcelsiusGPS robotic and navigation system, introduced nine spine products and earned 10 FDA clearances for trauma systems in 2017.

 

Here are results from the fourth quarter of 2017:

 

1. The company's global sales saw a 16.1 percent boost to $176 million, compared to the same period of 2016.

 

2. The net income was $24.4 million or 13.8 percent of sales.

 

3. U.S. sales rose 16.1 percent compared to the fourth quarter of 2016, owing to mid-single digit core spine growth and a robotic launch.

 

4. International sales grew 16.2 percent compared to the same period the year prior.

 

5. Globus Medical's diluted earnings per share were $0.25.

 

6. The non-GAAP diluted earnings per share were $0.38.

 

7. The non-GAAP adjusted EBITDA was 34.9 percent of sales.

 

8. Globus Medical had operating cash flow of $44.8 million.

 

The following reflects the full-year financial report:

 

9. Global sales hit $636 million, a 12.8 percent boost from 2016.

 

10. Net income was $107.3 million or 16.9 percent of sales.

 

11. The company's diluted earnings per share were $1.10.

 

12. Non-GAAP diluted earnings per share were $1.31.

 

13. Non-GAAP adjusted EBITDA was 35.6 percent of sales.

 

14. Operating cash flow was $159.5 million for the year.

 

Globus Medical confirmed its 2018 full-year sales of $690 million.

 

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