Orthofix reports sales growth in fourth quarter

Orthofix has published its fourth-quarter financial results for 2011, highlighting a five percent reported sales growth on a year-over-year basis.

The medical technology firm's net sales total rose to $151.5 million (95.88 million pounds) during the three-month period, contributing to an annual sales total of $579 million.

Over the last quarter, the company generated improved sales from its orthopaedics and sports medicine divisions, with positive trends including biologics revenue and international market growth.

During 2012, Orthofix expects to generate between $595 million and $605 million in sales, representing a growth rate of between three and five percent.

Robert Vaters, president and chief executive officer of Orthofix, said: "We are now well positioned to focus on long-term revenue growth … all while continuing to deliver on our commitment of growing our earnings in excess of our sales."

Earlier this month, the company expanded its international portfolio with the launch of Galaxy Fixation, a new device for a range of trauma applications.