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RTI Biologics Announces 2012 First Quarter Results

RTI Biologics Inc. (RTI) (Nasdaq: RTIX), a leading provider of orthopedic and other biologic implants, reported operating results for the first quarter of 2012 as follows:

Quarterly Highlights:

  • Achieved quarterly revenues of $43.7 million, an increase of 8 percent compared to the first quarter of 2011 and exceeding the company’s guidance of between $41 and $42 million.
  • Achieved quarterly earnings per fully diluted share of $0.04, an increase of $0.02 compared to the first quarter of 2011 and exceeding the company’s guidance of $0.03 per fully diluted share.
  • Achieved quarterly revenues of $13.4 million in the direct sports medicine business, a 15 percent increase compared to the first quarter of 2011.
  • Achieved quarterly revenues of $7.0 million in the bone graft substitutes and general orthopedic (BGS/GO) business, a 15 percent increase compared to the first quarter of 2011.
  • Achieved international revenues of $5.9 million, a 9 percent increase compared to the first quarter of 2011.
  • Achieved quarterly revenues of $14.1 million in the U.S. direct distribution organization, a 16 percent increase over the first quarter of 2011. The U.S. direct distribution organization includes sports medicine and some BGS/GO implants.

“We are pleased with our first quarter results, which exceeded our expectations and were driven primarily by growth in our direct sports medicine and BGS/GO businesses, as well as in our dental business,” said Brian K. Hutchison, president and CEO of RTI.

Worldwide revenues of $43.7 million for the first quarter of 2012 were up 8 percent compared to the first quarter of 2011. Domestic revenues of $37.9 million for the first quarter of 2012 were up 7 percent compared to the first quarter of 2011, primarily based on the strength of the sports medicine, BGS/GO and dental businesses. International revenues of $5.9 million increased 9 percent compared to the first quarter of 2011 due to the strength of the surgical specialties business and the export of sports medicine and BGS/GO implants. On a constant currency basis, international revenues increased 12 percent compared to the first quarter of 2011.

Stock quotes in this article: RTIX 

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