Here are eight things to know:
1. Bacterin revenue was up 6.6 percent to $9.5 million in the first quarter.
2. The company’s gross profit increased 9.6 percent to $6 million and gross margins improved 63.5 percent.
3. The first quarter sales and marketing expenses were up, hitting $4.7 million, and sales and marketing increased 49.6 percent as a percentage of net revenue in the first quarter this year.
4. The general and administrative expenses increased slightly to $2.4 million and as a percentage of revenues, general and administrative expenses declined from 25.7 percent of revenue in the fourth quarter.
5. The first quarter research and development increased significantly to $434,000 as the company continues to invest in product line extensions and clinical studies to support products.
6. First quarter loss from operations was around $1.7 million, increasing in the first quarter primarily due to ongoing execution of its strategy to increase and enhance field sales assets to drive future revenue growth as well as expanding product development initiatives.
7. Bacterin reported net loss at $4.2 million, essentially flat over the same period last year.
8. Bacterin reaffirmed revenue guidance of $40 million to $42 million for the 2015 full year.
More articles on orthopedic devices:
NuVasive Q1 revenue up 8.4%: 10 things to know
Tornier Q1 revenue down 1%
DePuy Snthes CMF launches cellulose-based dural replacement: 3 things to know
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
