The total net income for the quarter was reported as $6.1 million, an increase from the $4.8 million reported last year. David Stevens, interim CEO of Wright Medical Group, attributed its success to the launching of new products in the foot and ankle market. During the second quarter, the company launched FUSIONFLEX Demineralized Moldable Scaffold and INBONE II Total Ankle Replacement System.
The company’s increase in net sales was largely driven by the international market, which grew by 11.5 percent over last year. By contrast, the domestic market net sales dropped 1.5 percent. The hip product line accounted for the company’s larges sales, at $45,544, which is just above the net sales for the second quarter of last year.
The extremities products experienced the largest growth in net sales, 11 percent, to $32,753. The only line to drop was the biologics products, which dropped by 9.6 percent, and accounted for the company’s smallest portion of net sales.
Read the release about Wright Medical Group.
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