Wright Medical reported a total net income of $2.4 million, up from a loss of $2.4 million in the same period last year.
According to the release, net sales increased 0.4 percent over 2008 to reach $118.9 million in the second quarter of 2009. Global sales of the company’s extremity product line increased 17 percent, but Wright Medical reported hip, knee and biologic product sales decreasing by 1 percent, 3 percent and 6 percent, respectively, in the second quarter of 2009.
Domestically, Wright Medical saw a 24 percent increase in its extremity line and a 2 percent increase in its hip product line, according to the release. The biologic line remained flat and knee sales declined 1 percent.
Internationally, sales were down 7 percent compared with 2008.
As a result, Wright Medical has revised its 2009 sales guidance to a range of $475-$485 million as opposed to the previous goal of $500-$510 million, according to the release.
Read the release about Wright Medical’s second quarter results (pdf).
