Fourth Quarter and Full-Year ResultsFourth quarter 2012 sales increased 12% over the prior year period to $159.2 million. This increase was driven by our recent acquisitions, which added $20.3 million to sales, as well as 14% growth in vascular revenue. Fourth quarter results included the impact of foreign currency exchange rate fluctuations, which lowered orthopaedic sales by approximately $0.6 million in comparison to the prior year. On an organic constant currency basis, sales for the fourth quarter decreased 2% versus the prior year as the benefits described above were partially offset by lower cardiac and neuromodulation revenue, due to the timing of customer inventory builds. For the year, sales increased 14% to $646.2 million and included $84.8 million of revenue from our acquisitions partially offset by $6.3 million of negative foreign currency exchange rate fluctuations. On an organic constant currency basis, revenue for 2012 was consistent with the prior year as above market growth from our cardiac and vascular product lines was offset by operational issues experienced within our orthopaedics product line.
Greatbatch, Inc. Reports 2012 Fourth Quarter And Full Year 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