Press release
Orthofix Announces Preliminary 2021 Fourth Quarter and Full Year Net Sales Results
Fourth quarter net sales of approximately $125 million, an increase of 11% sequentially and 6% versus the prior year 2021 annual net sales of approximately
About this update from Orthofix Medical Inc.
[{"type":"text","content":"\n\nFourth quarter net sales of approximately $125 million, an increase of 11% sequentially and 6% versus the prior year\n\n\n2021 annual net sales of approximately $464 million, an increase of 14% versus the prior year\n\n\nDouble-digit growth over the prior year period for both global Spinal Implants and Orthopedics for the third consecutive quarter\n\n\nDouble-digit net sales growth across all product categories sequentially versus the third quarter\n\n\n LEWISVILLE, Texas--(BUSINESS WIRE)--\nOrthofix Medical Inc. (NASDAQ:OFIX) today announced preliminary unaudited fourth quarter 2021 net sales of approximately $125 million, an increase of 6% on a reported basis and 7% on a constant currency basis versus fourth quarter 2020. On a sequential basis, compared to the third quarter of 2021, net sales increased 11%. For the full year 2021, preliminary unaudited net sales were approximately $464 million, an increase of 14% on a reported basis and 13% on a constant currency basis.\n\n“We finished 2021 by continuing to deliver strong performance despite the COVID-19 related challenges that persisted throughout the year,” said Orthofix President and Chief Executive Officer Jon Serbousek. “The strength in the fourth quarter was driven by significant year-over-year growth in Global Orthopedics, predominantly coming from market recovery in our international stocking distributors and share capture with the Fitbone™ intramedullary limb-lengthening system, as well as growth in Spinal Implants, led by another outstanding quarter and market share capture within our U.S. motion preservation portfolio.”\n\n“While the macro environment continues to be dynamic, we are well positioned for 2022 to be an inflection point in our growth strategy. Over the last two years, we have generated tremendous momentum primarily as a result of our ongoing focus on the development of new and innovative technologies and channel partner enhancements. We will leverage that momentum and the strength of our product pipeline to deliver sustainable growth in 2022 and beyond,” continued Serbousek. “We continue to expect accelerated growth to come from the strength of new products, including the M6-C™ artificial cervical disc, the Fitbone system, and our portfolio of 3D-printed titanium spinal interbodies. In addition, we expect a number of our longer-term initiatives, inc...