Second quarter 2012 sales for the Vascular Access product line increased 16% to $12.5 million in comparison to the prior year and was primarily driven by the commercialization of new medical devices. We continue to expect 2012 sales of complete medical devices developed by Greatbatch to be in the range of $10 to $15 million for 2012.Orthopaedic product line sales of $32.9 million for the second quarter of 2012 declined 13% (-5% constant currency) compared to the second quarter of 2011. Foreign currency exchange rate fluctuations decreased Orthopaedic revenue by approximately $3 million in the second quarter of 2012 in comparison to the prior year. The remaining decline in second quarter 2012 Orthopaedic sales was a result of price concessions provided to customers, as well as fewer customer product launches and development opportunities due to operational issues within our Orthopaedic business, which are aggressively being addressed. In comparison to the sequential first quarter, Orthopaedic revenue increased 6%.
Greatbatch, Inc. Reports 2012 Second Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.