RTI Surgical Q2 revenue shrinks to $70.7M: 5 details

Written by Mackenzie Garrity | August 02, 2018 | Print  | Email

RTI Surgical released its 2018 second quarter financial results.

Here are five details:

1. Worldwide revenues for the second quarter were $70.7 million, compared to $72.1 million in the same quarter the prior year.

2. Excluding the company's $3.7 million reduction from the sale of all assets from the cardiothoracic business closure, RTI Surgical's total revenues increased 3.3 percent year-over-year to $2.2 million.

3. RTI Surgical reported $30 million in gross profits. Excluding the excess inventory charge and purchase accounting impact, the company's adjusted gross profit was $36.8 million compared to $37 million in the same period in 2017.

4. Net loss regarding common shares was $6.4 million, or $0.10 per diluted common share in the second quarter.

5. At the end of the year, RTI Surgical expects its revenues to range between $280 million and $290 million.

To view the full financial report, click here.

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