RTI Surgical reports $280.9M in 2018 revenue after 2 big acquisitions: 6 things to know

Written by Laura Dyrda | February 28, 2019 | Print  |

RTI Surgical reported increased fourth quarter and full-year revenue for 2018.

Six things to know:

1. Fourth quarter revenue reached $71.2 million, compared to $70.8 million over the same period in 2017. Worldwide revenue was up 0.5 percent for the full year, hitting $280.9 million.

2. Gross profit in the fourth quarter was $38.7 million, reaching 54.4 percent of revenues. At the end of the full year, gross profit was $140.1 million, reaching 49.9 percent of revenues.

3. For the full year, RTI surgical reported a net loss of $3.4 million. However, the net income applicable to common shares was $2.1 million for the fourth quarter.

4. Last year, RTI Surgial incurred $4.9 million in acquisition and integration costs, acquiring both Zyga Technologies and Paradigm Spine. The company also reported $2.3 million in severance and restructuring.

5. Full-year adjusted EBITDA was $33.7 million, 12 percent of revenue.

6. In 2019, RTI Surgical expects revenue to hit $325 million to $335 million, a 15 percent to 19 percent year-over-year growth. The projections assume Paradigm Spine's acquisition will be complete in March and there will be sustained favorable reimbursement from private payers.

More articles on orthopedic devices:
How Medtronic's focus on innovation has become the foundation for growth in spine, beyond
Is an acquisition in NuVasive's future? CEO Chris Barry on sale rumors, new spine robot
21 spine devices receive FDA 510(k) clearance in January

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