The company contributes its success to a new management in the surgical sales and marketing leadership team. Revenues from the company’s Veritas breast reduction and hernia repair product were $3.7 million in the fourth quarter, a 32 percent increase from last year. The product comprised 21 percent of the overall net revenue for the 2010 fiscal year.
Revenue from the microsurgical products totaled $3.1 million in the fourth quarter, a 32 percent increase from the fourth quarter of 2009. The orthopedic and wound products reported total revenue of $1.9 million during the fourth quarter. Research and development expenses totaled $1.3 million during the fourth quarter due to the testing and development of the PROcuff, an arthroscopically delivered device for reinforcing rotator cuff repairs. The company expects to launch the product during the beginning of 2011.
Read the release on Synovis Life Technologies’ 4Q FY 2010 financial report.
Read other coverage on orthopedic device companies’ financial reports:
– Medtronic Reports $3.903B in Total Revenue for 2Q FY 2011, 2% Increase
– Symmetry Medical Reports $91.5M in Total Revenue for 3Q, 5% Increase
