Orthofix (NSDQ:OFIX) this week posted second quarter earnings that beat expectations on Wall Street but showed growing losses. The Lewisville, Texas-based company posted profits of $925,000, or 5¢ per share, on sales of $111.6 million for the three months ended June 30, seeing profits shrink 97.6% while sales grew 2.4% compared with the same period last […]
Orthofix to become Orthofix Medical after Delaware reincorporation
Orthofix (NSDQ:OFIX) is changing its official name to Orthofix Medical after shifting the jurisdiction of the company from Curaçao to the state of Delaware, according to a recently posted SEC filing. The company said that it will continue to trade under the symbol “OFIX” and that there will be no changes to its shares, according to the […]
Orthofix pivots to spine, extremities
Orthofix (NSDQ:OFIX) said yesterday that it’s planning a pivot to the spine and extremities market beginning next year, folding its biostim and biologics businesses back into the spine segment five years after it split them out in the first place. In July 2013 Lewisville, Texas-based Orthofix split the spine segment into biostim and spine fixation divisions, promoting Brad Niemann […]
Orthofix closes $105m Spinal Kinetics buyout, cuts earnings outlook
Orthofix (NSDQ:OFIX) said yesterday that it closed the $105 million buyout of Spinal Kinetics and its M6 cervical disc implant, but cut its earnings outlook for the rest of the year despite higher-than-expected first-quarter results. The deal for Sunnyvale, Calif.-based Spinal Kinetics called for $45 million in up-front cash, plus another $65 million in milestones pegged to FDA approval of […]
Orthofix puts $105m on the table for Spinal Kinetics
Orthofix (NSDQ:OFIX) said yesterday that it put up to $105 million on the table to acquire Spinal Kinetics and its M6 cervical disc implant. Lewisville, Texas-based Orthofix said the deal calls for $45 million in up-front cash, plus another $65 million in milestones pegged to FDA approval of the M6 cervical device and trailing twelve-month sales targets […]
Orthofix wins FDA, CE Mark for next-gen PhysioStim bone-growth stimulator
Orthofix (NSDQ:OFIX) said today it won FDA approval in the US and CE Mark approval in the European Union for its next-gen PhysioStim bone growth stimulator devices. The device is designed as a non-surgical treatment option for patients with a nonunion fracture in an extremity with no visible signs of healing, using pulsed electromagnetic field signals to […]
Orthofix swings to Q4 black
Orthofix (NSDQ:OFIX) yesterday put black ink in the ledger for the fourth quarter and beat the consensus forecast as it contemplates moving its corporate registration from Curacao to the U.S. The Lewisville, Texas-based orthopedics company posted profits of $1.6 million, or 8¢ per share, on sales of $116.9 million for the three months ended Dec. 31, 2017, […]
Orthofix launches RCStim rotator cuff repair trial
Orthofix (NSDQ:OFIX) said today it launched a study looking to evaluate the use of pulsed electromagnetic field technology with the company’s RCStim device as adjunctive treatment to the surgical repair of rotator cuff tears. The 538-patient study, which has begun enrollment, will evaluate the safety and effectiveness of PEMF technology designed to promote bone growth and […]
Orthofix’s Q3 profits plunge
Third-quarter profits for Orthofix (NSDQ:OFIX) plunged some 65% compared with the same period last year on increased income tax expenses, but the orthopedics company raised its 2017 sales outlook and increased the high end of its earnings forecast. Lewisville, Texas-based Orthofix posted profits of $3.5 million, or 19¢ per share, on sales of $105.2 million for […]
Orthofix Q2 earnings top EPS, sales estimates
Orthofix (NSDQ:OFIX) today posted 2nd quarter earnings that topped analysts consensus on Wall Street for both sales and earnings per share. The Lewisville, Texas-based company posted profits of $3.9 million, or 21¢ per share, on sales of $108.9 million for the 3 months ended June 30, seeing a 151.8% swing from the red on the bottom-line […]
Orthofix Q1 sales beat the Street, EPS narrowly misses
Orthofix (NSDQ:OFIX) shares have stayed steady in after hours trading today after the medical device maker topped sales expectations but narrowly missed EPS consensus with its 1st quarter earnings results. The Lewisville, Texas-based company posted losses of $2.7 million, or 15¢ per share, on sales of $102.7 million for the 3 months ended March 31, seeing […]
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