Orthofix International N.V. (NASDAQ:OFIX) (the Company) today announced its results for the second quarter ended June 30, 2012. Net sales of $119.5 million represent an increase of 2% over the second quarter of last year. Net sales grew 5% on a constant currency basis. Net income from continuing operations was $14.0 million, or $0.73 per diluted share compared to net income from continuing operations of $10.5 million, or $0.57 per diluted share, in the prior year. Adjusted net income was up 11% to $14.9 million, or $0.78 per diluted share compared to $13.4 million, or $0.72 per diluted share, in the prior year.
“The second quarter results demonstrate the strength of our Regenerative Solutions and highlights our strategy to leverage our differentiated product offerings across both our Spine and Orthopedic business units,” commented President and Chief Executive Officer Robert Vaters. “In addition, the close of the Sports Medicine divestiture provides us with the financial capacity and flexibility to make the necessary investments to drive long-term growth.”
Net sales were $119.5 million in the second quarter of 2012, up 2% on a reported basis, and 5% on a constant currency basis, from $116.7 million in the second quarter of the prior year. Foreign currency negatively impacted second quarter net sales by approximately $3.3 million, or 3% of net sales.
|External net sales by global business unit|
|Three Months Ended June 30,|
|(USD in millions)||2012||2011||Growth||Growth|
|Spine Repair Implants and Regenerative Biologics||$||38.5||$||36.9||4||%||4||%|
|Spine Regenerative Stimulation||43.3||39.7||9||%||9||%|
|Total net sales||$||119.5||$||116.7||2||%||5||%|
|Note: Some calculations may be impacted by rounding.|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV