Orthofix (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%.