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Home Industry News Orthofix reports strong financial results for Q2 2017

Orthofix reports strong financial results for Q2 2017

23rd August 2017

Orthofix has announced its financial results for the second quarter of 2017, during which it generated a net sales total of $108.9 million (85.11 million pounds).

This represents a year-on-year increase of 4.7 percent, or a 5.1 percent rise on a constant currency basis, which was in line with the company's expectations for the period.

During the quarter, the firm's biologics and spine fixation divisions were particularly strong performers, with the former achieving a 9.9 percent rise in sales and the latter seeing a 17.1 percent increase.

Brad Mason, president and chief executive officer at Orthofix, said: "We believe these growth rates are sustainable in both businesses due to the renewed engagement of our sales partners, the addition of new distributors in underserved markets and our flow of new products to the field."

Orthofix's BioStim and extremity fixation businesses also performed better than expected in the second quarter, further driving the success of the company during this period.

For the full year, the firm now expects to deliver a net sales total of between $422 million and $425 million, up from its previous forecast range of $411 million to $415 million.

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