ArthroCare boosts revenue figures in Q2

ArthroCare recorded revenues of $91.3 million (£55.9 million) in the second quarter of the year, which is $4.1 million more than it saw in the same period of 2010.

In a trading update, the firm highlighted a nine percent increase in its ENT product sales, which it attributed to the success of its Rapid Rhino range among other factors.

ArthroCare saw its sports medicine sales climb from $54.7 million to $57.2 million, although revenue from items in its 'other products' category fell by $0.8 million.

A representative from the organisation stated: "Product sales from the company's international markets increased $3.8 million, which was partially offset by a $1.5 million decrease in contract manufactured product sales."

In terms of its balance sheet, ArthroCare revealed that its cash and cash equivalents increased from $132.5 million in December 2010 to $184.9 million June 2011.

These figures follow the news that the firm's SpeedFix Suture System received clearance from the Food and Drug Administration in the US.