OrthoPediatrics (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.
