RTI's quarterly earnings up 4 percent

By Anthony Clark | The Gainesville Sun

Alachua-based RTI Biologics reported a 4 percent increase in revenues in the second quarter but lower net income because of a lawsuit settlement.

Revenues for the quarter ending in June were $45.2 million compared to $43.5 million in the second quarter of 2011.

President and CEO Brian Hutchison said the results exceeded expectations and were driven primarily by growth in surgical specialties, direct sports medicine, and bone graft substitutes and general orthopedic sales. Revenue growth was partially offset by lower spinal sales, the company's biggest line.

RTI makes surgical implants from donated human tissue and bovine tissue.

The company reported net income of $1.3 million, $0.02 per fully diluted share compared to $0.04 per share a year prior. The earnings were offset by a $2.35 million pre-tax litigation settlement, or $0.03 per share, to settle cases related to a lawsuit.

RTI was named among the defendants in a 2005 lawsuit filed by families of human tissue donors related to the tissue recovery practices of Biomedical Tissue Services, which was an RTI supplier.

Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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