The company’s net sales of spinal products fell by 3 percent, from $78.6 million in 2010 to $76.5 million in 2011, owing largely to a 12 percent drop in stimulation products. Net sales of the spine implants and biologics products rose 9 percent to $36.9 million from $33.7 million. Net sales for the company’s orthopedics and sports medicine products grew by 7 and 9 percent, respectively.
Orthofix president and CEO Robert Vaters said the company has focused on spinal implants and biologics as well as sports medicine, and saw the efforts in those areas pay off. The company’s market sector was led by hardware and an increase in use of the Trinity Evolution for orthopedic applications. However, the company is still struggling in a challenging market.
Read the release on the financial report for Orthofix.
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