Six things to know:
1. RTI’s second-quarter revenues were boosted from a $10.1 million global contribution made from the acquisition of Paradigm Spine, which closed in March.
2. Gross profit in the second quarter was $44.7 million, which made up 54.4 percent of revenues. Profit increased 49 percent compared to the $30 million posted in the second quarter of 2018.
3. Net income applicable to common shareholders was $700,000 or $0.01 per fully diluted common share. This was an increase from the $6.4 million in net losses in the second quarter of 2018.
4. Second-quarter adjusted EBITDA was $9.9 million, which was 12 percent of revenue.
5. The company maintained its full-year revenue estimates of $325 million to $335 million.
“We’re very pleased with the double-digit topline growth of our legacy spine hardware portfolio, particularly as we work to establish a new sales channel to drive the growth of our Novel Therapies portfolio, which includes coflex,” said RTI Surgical President and CEO Camille Farhat.
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