Orthofix President and CEO Alan Milinazzo attributed the growth to improved operating results in the company’s spine stimulation and orthopedics divisions as well as the expansion of a new facility in Texas.
Orthofix reported a net income of $10.2 million, up 63 percent from the second quarter of 2009. Adjusted net income in the second quarter of 2010 is reported as $9.7 million, an increase of 29 percent from the second quarter of 2009.
Orthofix reported $21.2 million in operating income during the second quarter and an adjusted operating income of $17.4 million. This is a 12.6 percent increase over the prior year, primarily attributed to operating cost improvement of the company’s spinal implants and biologics division.
Read the news release on the second quarter report for Orthofix.
Read other coverage on Orthofix:
– Orthofix’s Breg Group Receives CIO 100 Award for Orthopedic Management Software
– Orthofix Announces Three Sports Medicine Products
– Orthofix Appoints Former Stryker Executive as President of Spinal Implants Division
