Cash and cash equivalents and marketable securities totaled $317.6 million as of the end of the third quarter of 2012, an increase of $145.9 million compared to the end of the fourth quarter of 2011. Net cash flow from operating activities was $16.6 million, which combined with capital expenditures of $4.7 million, resulted in free cash flow of $11.9 million in the third quarter of 2012 compared to free cash outflow of $2.1 million in the third quarter of 2011.Palmisano concluded, “During the fourth quarter, we will continue to make investments to accelerate foot and ankle growth, improve customer satisfaction in our Ortho-Recon business and increase cash generation capabilities. We also expect continued progress on our inventory reduction initiatives and accelerating U.S. foot and ankle sales productivity in 2013. In addition, our recently completed convertible debt offering provides us with significantly increased flexibility to pursue internal and external development opportunities that we believe will help us continue to drive the positive transformation of our business for the remainder of this year and beyond.”
Wright Medical Group, Inc. Reports 2012 Third Quarter Financial Results And Updated Guidance
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