Press release
Orthofix Announces Preliminary 2020 Fourth Quarter and Full Year Net Sales Results
Fourth quarter net sales of approximately $118 million, an increase of 6% sequentially and a decrease of 3% versus the prior year U.S. Spinal Implants fourth
About this update from Orthofix Medical Inc.
[{"type":"text","content":"\n\nFourth quarter net sales of approximately $118 million, an increase of 6% sequentially and a decrease of 3% versus the prior year\n\n\nU.S. Spinal Implants fourth quarter net sales increased 11% over the prior year \n\n\nMotion Preservation fourth quarter net sales in the U.S. were approximately $7 million, an increase of 27% sequentially and 129% over prior year \n\n\n LEWISVILLE, Texas--(BUSINESS WIRE)--\nOrthofix Medical Inc. (NASDAQ:OFIX) today announced preliminary unaudited fourth quarter 2020 net sales of approximately $118 million, a decrease of 3% on a reported basis and 4% on a constant currency basis. For the full year 2020, preliminary unaudited net sales were approximately $407 million, a decrease of 12% on both a reported and constant currency basis. On a sequential basis, compared to the third quarter of 2020, net sales increased 6%.\n\n“First I would like to thank all of our team members for their remarkable efforts throughout this unprecedented and volatile year. This pandemic presented patients, surgeons and hospital teams with extraordinary challenges, which continues to require an extraordinary response by the Orthofix team. I am grateful to work alongside people so motivated and committed to improving patients’ lives,” said Orthofix President and Chief Executive Officer Jon Serbousek.\n\n“We are pleased by our continued positive revenue momentum in the fourth quarter driven primarily by our Spinal Implants business, despite the continued headwinds and uncertainty caused by COVID-19 across the globe. When normalizing for certain large stocking orders that did not recur in 2020, our Q4 2020 consolidated net sales were approximately flat to last year. Our solid finish to 2020 directly reflects on the tenacity and resolve of our teams around the world, and our ability to execute on our strategic initiatives throughout the year. As we move into 2021, we will use this momentum and believe we are better positioned to deliver growth.”\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended December 31,\n\n\n\n \n\n\n\n\n\n(Unaudited, U.S. Dollars, in millions)\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n \n\n\n\nConstant\nCurrency\nChange\n\n\n\n \n\n\n\n\n\nBone Growth Therapies\n\n\n\n \n\n\n\n$\n\n\n\n51\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n51\n\n\n\n \n\n\n\n \n\n\n\n ...