RTI Surgical Inc. (RTI) (Nasdaq:RTIX), a global surgical implant company, reported operating results for the third quarter of 2013 as follows:
- Completed the acquisition of Pioneer Surgical Technology, Inc. (Pioneer) on July 16, 2013.
- Achieved quarterly revenues of $54.7 million, a 23 percent increase over the third quarter of 2012. Quarterly revenues include $16.1 million of revenue from Pioneer for the period of July 16, 2013 to Sept. 30, 2013.
- Announced successful outcome to Food and Drug Administration (FDA) inspection of Alachua, Fla. facility.
- Successfully completed the first human implantations of map3™ cellular allogeneic bone graft in both spine and foot and ankle procedures.
- Launched the Tritium™ Sternal Cable Plating System for closing median sternotomies following open heart procedures.
Worldwide revenues were $54.7 million for the third quarter of 2013 compared to revenues of $44.6 million for the third quarter of 2012. Domestic revenues were $49.3 million for the third quarter of 2013 compared to revenues of $39.6 million for the third quarter of 2012. International revenues were $5.4 million for the third quarter of 2013 compared to revenues of $4.9 million for the third quarter of 2012. On a constant currency basis, international revenues for the third quarter of 2013 increased 6 percent as compared to the third quarter of 2012. The increases in year-over-year revenues reflect the inclusion of $16.1 million of Pioneer revenues for the period of July 16, 2013 to Sept. 30, 2013. If Pioneer revenues had been included for the entire third quarter for both 2012 and 2013, worldwide revenues would have decreased by 12 percent.
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