Here are six takeaways:
1. The company’s net sales for the quarter topped $217.6 million, a 12.7 percent increase year-over-year.
2. Wright Medical reported a fourth quarter net income of $26.9 million, or $0.25 per diluted share.
3. Cash and cash equivalents at the end of the quarter totaled $167.7 million. None of the cash was considered restricted at the end of the quarter.
4. Wright Medical’s upper extremities segment in the U.S. saw the most growth, 19 percent, from $201.58 million in 2016 to $239.97 million in 2017.
5. Internationally, Wright Medical’s biologics segment saw the most year growth, 18 percent, from $18.88 million in 2016 to $22.28 million in 2017.
6. In 2018, Wright Medical predicts full-year net sales to reach between $800 million and $812 million.
More articles on devices and implants:
Ortho Sales Partners forming orthopedics and spine divisions, announces two executive additions: 4 things to know
Implanet, L&K Biomed finalize partnership: 4 key points
Stryker prices $600M senior notes offering: 4 highlights
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
