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RTI Biologics Announces 2012 Third Quarter Results

Stocks in this article: RTIX

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

Quarterly Highlights:

  • Achieved quarterly revenues of $44.6 million, a 5 percent increase over the third quarter of 2011.
  • Achieved quarterly net income per fully diluted share of $0.05.
  • Achieved quarterly revenues of $11.8 million in the sports medicine business, a 7 percent increase over the third quarter of 2011.
  • Achieved quarterly revenues of $7.9 million in the surgical specialties business, a 5 percent increase over the third quarter of 2011.
  • Achieved quarterly revenues of $7.9 million in the bone graft substitutes and general orthopedic (BGS/GO) business, a 13 percent increase over the third quarter of 2011.
  • Achieved quarterly revenues of $5.2 million in the dental business, a 15 percent increase over the third quarter of 2011.
  • Achieved quarterly revenues of $12.8 million in the U.S. direct distribution organization, a 5 percent increase over the third quarter of 2011. The U.S. direct distribution organization includes sports medicine and certain BGS/GO implants.

“Revenues in the third quarter met expectations and were driven primarily by continued growth in our dental, BGS/GO, direct sports medicine and surgical specialties businesses,” said Brian K. Hutchison, president and chief executive officer of RTI.

Worldwide revenues of $44.6 million for the third quarter of 2012 increased 5 percent compared to the third quarter of 2011. Domestic revenues of $39.6 million for the third quarter of 2012 grew by 6 percent compared to the third quarter of 2011, primarily based on the strength of the dental, BGS/GO, surgical specialties and direct sports medicine businesses and were offset by continued weakness in the spine business. International revenues of $4.9 million for the third quarter of 2012 declined slightly as compared to the third quarter of 2011. On a constant currency basis, international revenues increased 9 percent as compared to the third quarter of 2011 due to higher distributions of BGS/GO.

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