Orthofix's positive Q4 can't eclipse $28M 2019 loss

Spinal Tech

Orthofix reported a net profit of $11.7 million for the fourth quarter of 2019 but lost $28.5 million on the year.

What you should know:

1. Orthofix's net sales for the quarter were basically flat year over year. The company reported $121.5 million in sales for the fourth quarter, a slight year-over-year increase from $121.1 million the same time last year. On the year, the company reported nearly $460 million in sales.

2. The company's spine-related adjusted EBITDA was $22.7 million, the largest of its divisions. The company posted $4.7 million in corporate losses. Total adjusted EBITDA was $22.5 million.

3. Orthofix issued its 2020 projections, expecting net sales between $467 million and $477 million, and adjusted EBITDA between $65 million and $68 million.

5. For the first quarter of 2020, Orthofix expects to post net sales between $106 million and $109 million.

Recently appointed CEO and President Jon Serbousek commented on the quarter: "I joined Orthofix because I saw a significant opportunity. The last few months spent with this talented team and our external stakeholders has me even more excited about the future of this company."

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