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Home » OrthoPediatrics misses earnings, revenue consensus in Q4

OrthoPediatrics misses earnings, revenue consensus in Q4

March 11, 2021 By Danielle Kirsh

OrthoPediatricsOrthoPediatrics (NSDQ:KIDS) posted fourth-quarter results that missed the consensus forecast on Wall Street.

The Warsaw, Ind.–based maker of pediatric orthopedic devices reported losses of -$14 million, or -73¢ per share, on sales of $18.9 million for the three months ended Dec. 31, 2020, for a sales loss of -0.15% compared with Q4 2019.

Earnings per share were -73¢ per share, 46¢ behind The Street where analysts were looking for earnings of -27¢ per diluted share on sales of $20.5 million.

“Despite COVID-19, in 2020 we continued the systematic execution of our growth initiatives both domestically and internationally. Elective surgery volumes declined globally but staged a gradual recovery throughout the year,” CEO Mark Throdahl said in a news release.

“During the fourth quarter, our domestic business grew 26% and international agencies grew 51%, supporting the beginning of an international sales turnaround.”

OrthoPediatrics said it expects “very significant growth” over full-year 2020 with sales reaching $93-98 million to represent 31%-38% growth. “We are optimistic about the outlook in 2021, particularly with the resumption of strong international growth,” Throdahl said.

KIDS shares were down more than –7% to $45.50 apiece by midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — is up slightly today.

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, Orthopedics, Wall Street Beat Tagged With: OrthoPediatrics

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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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