Orthofix Forecasts Mixed Fiscal 1Q Results
Stock quotes in this article:
OFIX
BOSTON (AP) Orthopedic products maker Orthofix International NV on Friday forecast a first-quarter profit exceeding Wall Street expectations, although its sales forecast was not quite as strong as expected.
The company said its profit will be between 14 cents to 16 cents per share, while revenue will be about $129 million. The total includes $28.8 million in revenue from the spine implant and biologic business. Orthofix estimated that unfavorable foreign currency exchange rates reduced its sales by about $5.1 million. Analysts expected a profit of 12 cents per share and $130.5 million in revenue, according to Thomson Reuters. The company's fiscal first quarter ended March 31, and Orthofix plans to report full results on May 6 after the market closes. In morning trading, Orthofix shares fell $2.04, or 10.4 percent, to $17.60.- Loading Comments...
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