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Home » Orthofix beats The Street in Q4

Orthofix beats The Street in Q4

February 25, 2022 By Danielle Kirsh

OrthofixOrthofix (NSDQ:OFIX) today posted fourth-quarter results that beat the overall consensus on Wall Street.

The Lewisville, Texas-based orthopedic device maker reported losses of $32.8 million, or $1.65 per share, on sales of $125.1 million, for the three months ended Dec. 31, 2021. Sales were up 6.33% compared with Q4 2020.

Adjusted to exclude one-time items, earnings per share were 27¢, 14¢ ahead of The Street, where analysts were looking for sales of $124.87 million.

“Despite the headwinds our industry faced throughout the year, we delivered double-digit revenue growth while continuing to advance initiatives that will fuel the future of the business,” president and CEO Jon Serbousek said in a news release. “We closed the year with strong fourth-quarter performance, driven by year-over-year growth in global spinal implants as well as growth in orthopedics, primarily as a result of the continued strength of key products such as the M6-C artificial cervical disc and our Fitbone intramedullary limb-lengthening system.”

Orthofix expects net sales to be in the range of $475 million and $490 million for the fiscal year 2022. Adjusted EPS is projected to be in the range of 58¢ to 73¢.

Shares in OFIX were up 0.12% at $32.71 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up 1%.

Filed Under: MassDevice Earnings Roundup, Orthopedics, Wall Street Beat Tagged With: Orthofix

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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