Orthopedic companies see mixed bag on Q4, FY2017 earnings

Orthopedic companies K2M (NSDQ:KTWO) and SeaSpine (NSDQ:SPNE) reported their fourth quarter and full year 2017 earnings, with K2M seeing a drop in share value while SeaSpine saw a mild rise. Leesburg, Va.-based K2M posted losses of $8.8 million, or 20¢ per share, on sales of $67.8 million for the 3 months ended December 31, seeing losses shrink 29.8% while sales grew 9.7% compared with the same period last year. Loss-per-share expectations were just below the 19¢ analyst’s consensus on Wall Street. For the full year, K2M posted losses of $37.2 million, or 87¢ per share, on sales of $258 million, seeing losses shrink 10.8% while sales grew 9% compared with the previous fiscal year. “Our financial results for calendar year 2017 reflect total revenue growth of approximately 9% year-over-year, above the high-end of our guidance range. We delivered approximately 9% growth in the United States in 2017-well above-market growth rates-driven by solid execution against our strategic goal of increasing market share by introducing new and innovative spinal implant solutions and expanding our distribution footprint. We have supplemented this organic growth activity with exciting product introductions in both the complex spine and degenerative categories. Looking out to 2018, we are excited about the opportunity of our first-of-its-kind Mojave PL 3D expandable interbody system featuring Lamellar 3D titanium technology and our Yukon OCT spinal system that can be used with t...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat K2M SeaSpine Source Type: news