Earnings Anika Therapeutics reported 4Q:07 product revenue of $7.9 million, in line with estimates and up from $5.08 million for the same period last year. The revenue growth was attributed to domestic and international sales of the ORTHOVISC product line,... more
Earnings Anika reported 3Q:07 product revenues of $7.28 million, up from $5.49 million in 3Q:06. The company attributed the sales growth to strong domestic and international sales of ORTHOVISC®. Net income for 3Q:07 was $1.8 million, or $0.16 per diluted... more
Earnings Biologics: Orthovita reported 2Q:07 revenues of $14.85 million, beating estimates of $14.13 million and reflecting a 33% increase over 2Q:06. Sales growth was attributed to increased U.S. sales of VITOSS® FOAM and VITAGEL® products. Net loss decreased to $3.17... more
Earnings Orthovita reported 4Q:06 revenues of $13.81 million, beating analysts' estimates of $13.76 million and reflecting 38% growth compared to $9.97 million in 4Q:05. Orthovita attributed the growth to increased U.S. sales of VITOSS® FOAM and VITAGEL®. OrthoLogic announced 2006... more
Appointment: SpineVision® SA has hired Julian Mackenzie as its new Chairman and CEO. Previously, Mr. Mackenzie was with Wright Medical serving as Director General and CFO. Business Update: Donor Referral Services of North Carolina is at the center of a... more
Orthologic reported yesterday that an interim analysis of its Chrysalin Phase IIb dose response distal radius fracture healing clinical trial did not meet its primary efficacy endpoint of having a benefit over a placebo in time to removal of immobilization.... more
To update from previous blog, twenty of twenty-four orthopedic companies reported revenues and earnings for the period of January 1, 2006 to April 1, 2006. Excluding Inion, Osteotech, RTI (Regeneration Technologies) and Tutogen, which have not reported yet, total orthopedic... more
The announcement of Biomet hiring investment bank Morgan Stanley, sent its stock price up 11% in one day. With news of Dane Miller resigning and the Company hiring a banker, there were many speculations suggesting Biomet is for sale. However,... more
After divesting its bone growth stimulation business to dj Orthopedics for $93 million in cash, OrthoLogic ("OLGC") became a full-time biotechnology company dedicated to research, development and commercialization of its proprietary products, Chrysalin® and AZX100. The past two years have... more
Orthologic announced this morning that its 503-person clinical trial of its synthetic peptide Chrysalin to treat wrist fractures failed to meet its primary goal of accelerating recovery. In an instant, its market capitalization was cut in half and the company... more
Although management teams are preparing for AAOS, a few more companies reported earnings this week. We did a quick calculation and found that our internal Orthopedic Index PE year-to-date has stayed relatively flat at 27x. We expect that the AAOS... more
dj Orthopedics announced that it had signed a definitive agreement to purchase Aircast Incorporated for $290 million in an all cash transaction. Aircast is a leading designer and manufacturer of ankle braces and vascular systems. Aircast booked $96.8 million in... more
It has been a busy week for many CEOs and CFOs in the orthopedic device sector. In the past two weeks orthopedic companies reported 3Q:05 sales of $4.7 billion which was a 12% increase over the 3Q:04. Net earnings for... more
This week we completed the orthopedic reporting calendar as a few more companies reported earnings, starting with Synthes, the number #1 trauma company worldwide. Synthes reported 20% growth in both top and bottom line for 1H:05. Consolidated sales reported at... more
Thanks to one of our readers who reminded me that I should add international dial-in numbers to the conference calls list. Since most of the companies have already reported their earnings, I am providing you with replay information in case... more
Earnings: Please refer to the table (below) for individual company sales and earnings. It's all about earnings this week... Biologics: Clearly, the big winner this week is LifeCell Corp. who reported strong earnings on Monday stock was up 24% at... more
On Thursday of last week, OrthoLogic Corp. (Nasdaq: OLGC) announced its Q4:04 results. The Company, which has effectively been a drug development company since the sale of its bone growth stim business, reported a net loss of $4.9 million or... more
Taking a quote from Butch Cassidy and the Sundance Kid, 'Who are those guys?' Tom Trotter's OrthoLogic could eventually possess more 'growth factor' indications than Medtronic, operate at significantly lower costs than Medtronic and have obtained a drug approval for... more
It's official. Tom Trotter, CEO of OrthoLogic (OLGC), has completed his transition of OLGC from a medical device company to a pure play orthobiologics organization. The feat took Trotter approximately three years beginning in 2001. During that time he divested... more
Last Thursday, dj Orthopedics, Inc. (DJO) held a conference call to help investors wade through the new numbers from its acquisition of OrthoLogic's bone growth stimulation division. The deal is now signed, sealed and delivered. Bone growth stimulation products are... more
Peter Drucker asked that question fifty years ago in his seminal book The Practice of Management. While his generic answer (“the only function of a business is to create customer value and to innovate.”) remains as valuable in 2004 as... more
Osteotech is in the midst of a significant turn-around year with sales expected to reach or exceed $96 million and for cash flow (defined as EBITDA) to clear $23 million. This stands in contrast to last year's $83 million in... more
Last week we published our sales and earnings forecast as well as an analysis of future prospects for two companies, Exactech and Regeneration Technologies. We've posted the summary of our analysis for each company on First Call (the Thompson Financial... more
Earnings season starts this week with the Tuesday, April 15th release of DePuy/Acromed's first quarter results (as buried in JNJ's release) and continues until mid-May when Sofamor Danek's numbers for the April quarter (Medtronic, Sofamor Danek's parent, is on an... more
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