K2M shares up on mixed-bag Q1

Shares in K2M (NSDQ:KTWO) have risen today after the orthopedic-focused posed mixed-bag second quarter earnings that beat the Street on sales but missed on loss-per-share consensus. The Leesburg, Va.-based company posted losses of $11.4 million, or 26¢ per share, on sales of $67.9 million for the three months ended March 31, seeing losses grow 4.8% while sales grew 9.7% compared with the same period during the previous year. K2M’s 26¢ per share losses were just behind the 22¢ consensus on Wall Street, where analysts were expecting to see sales of $65.8 million. “Our first quarter total revenue growth of approximately 10% year-over-year reflect solid trends in the U.S. and stronger-than-expected demand in international markets. We delivered approximately 8% growth in the United States in Q1—at the high-end of our growth expectations—driven by solid execution against our strategic goal of increasing market share by introducing new and innovative spinal implant solutions like 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 the Palo Alto cervical static corpectomy cage system, the first and only static corpectomy cage in the world to receive a cervical 510(k) clearance. We have increased our fiscal year 2018 revenue guidance expectations to a new range of $283 million to $287 million based on our improved revenue outlook for Spain. We remain confident in ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat K2M Source Type: news