This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Orthofix International Provides Preliminary 2012 Results

Orthofix International N.V., (NASDAQ:OFIX) (the Company) provided today preliminary unaudited results for the fourth quarter, and year ending December 31, 2012. The Company anticipates net sales to be approximately $112 million and full year 2012 net sales from continuing operations to be approximately $462 million. The negative impact from foreign currency translation is expected to be approximately $10 million for the full year 2012.

The Company expects fourth quarter 2012 adjusted earnings from continuing operations per share to be between $0.78 and $0.83. For the full year 2012, adjusted earnings from continuing operations per share are expected to be between $3.01 and $3.06. These sales and earnings results are preliminary and unaudited therefore are subject to change.

Despite the strong revenue increase in our U.S. Spine Repair Implants and Regenerative Biologics business and an increase in our U.S. Orthopedic Repair business, the fourth quarter revenue was negatively impacted in international markets by regulatory and macroeconomic conditions. In addition, the Company’s Spine Regenerative Stimulation business was negatively impacted in the second half of the year by sales force turnover as we initially implemented our Corporate Integrity Agreement in June 2012.

Robert Vaters, President and Chief Executive Officer, stated, “While I am pleased with our preliminary earnings, I am disappointed in the preliminary fourth quarter revenue. The international markets have presented many challenges in the latter part of 2012 and especially during the fourth quarter. These included general market and regulatory conditions in both the Spine and Orthopedic businesses, mandatory price reductions for public hospitals in Italy, cancellation of reimbursement by the government on Physio-Stim in France, and a delay of surgeries by government hospitals and insurance providers. Despite top line weakness in the fourth quarter, 2012 was a transformative year for Orthofix as we accomplished significant objectives by finalizing the three major legal matters, achieving our operating margin expansion goals, and improving the Company’s financial profile to enable investment in product pipeline and inorganic activities to drive future growth.”

Stock quotes in this article: OFIX 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs