K2M posts mixed-bag Q2

K2M (NSDQ:KTWO) today posted second quarter earnings results that beat Wall Street expectations on sales, but missed on loss-per-share consensus. The Leesburg, Va.-based company posted losses of $10.8 million, or 25¢ per share, on sales of $73.6 million for the three months ended June 30, seeing losses grow 19.2% on sales growth of 12% compared with the same period last year. Losses per share were just behind the 19¢ consensus on The Street, where analysts were looking for sales of $70.9 million, which the company topped. “Our second quarter total revenue growth of approximately 12% year-over-year reflects strong trends in both the U.S. and international markets, and we have increased our fiscal year 2018 revenue guidance expectations accordingly. Summer deformity season is off to a strong start and, similar to Q1, our revenue growth in the U.S. this quarter was fueled in part by our multiple new product launches and the expansion of our distribution network in 2017 and 2018. We delivered 7.5% growth in the United States over the first six months of 2018, 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. Building on the early commercial traction from recent new p...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat K2M Source Type: news