Orthofix forecasts Q4 net sales dip, but boom in motion preservation sales: 6 details

Alan Condon -   Print  |
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Orthofix expects net sales in the fourth quarter to decrease about 3 percent year over year to $118 million, but projects significant increases in motion preservation sales, according to a preliminary unaudited report posted Jan. 12.

Six details:

1. Full-year 2020 net sales are expected to be $407 million, representing a 12 percent decrease year over year.

2. For the fourth quarter, spinal implants net sales increased 11 percent, to $28 million, and biologics sales decreased 9 percent to $15 million, compared to the same period in 2019.

3. Orthofix attributed the rise in spinal implants sales to the adoption of its M6-C artificial cervical disc.

4. Motion preservation net sales in the fourth quarter are expected to rise 129 percent year over year to $7 million.

5. As of Dec. 31, cash, cash equivalents, and restricted cash was $96 million to $97 million, compared to $70 million on Dec. 31, 2019.

6. Orthofix will report full-year 2020 financial results and provide its financial outlook for 2021 in late February.

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