Orthofix Q1 net sales up 1%

Laura Dyrda -   Print  |

Orthofix net sales grew in the first quarter, driven by strong U.S. spinal implant sales.

Five takeaways:

1. First-quarter net sales hit $105.6 million, up 1 percent year over year.

2. Spine implant sales jumped 12.1 percent, to $25.7 million, while biologics fell 1.8 percent to $13.7 million.

3. Global spine sales were flat at $82.3 million, and global orthopedic sales were up 3.3 percent, to $23.3 million.

4. Orthofix reported a $5.8 million net loss for the quarter, and gross profit dropped to $1.7 million.

5. Orthofix expects 2021 net sales to reach $455 million to $465 million, a 12 percent to 14.4 percent increase over 2020.

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