RTI annual revenues increase after Pioneer purchase

Alachua-based RTI has now acquired Pioneer Surgical Technology, showing growth yet again. Progress Park is home to RTI and offers several hundred thousand square feet of office, lab, and research and development space. Click here to learn more about Progress Park in Alachua.


From The Gainesville Sun

RTI Surgical’s July acquisition of Pioneer Surgical Technology pushed 2013 revenues to $198 million compared with $178.1 million in 2012, although the full-year revenues for both companies combined for 9 percent less in 2013.

RTI reported a net loss of $19.2 million for the year, or a $0.34 loss per fully diluted common share in 2013, compared with net income of $8.4 million -- $0.15 per share -- in 2012, according to a news release.

Alachua-based RTI makes biologic, metal and synthetic implants and trades on the Nasdaq exchange under the symbol RTIX.

Fourth-quarter revenues were $60.5 million compared with $44.6 million in the fourth quarter of 2012. The quarter produced a net loss of $8.5 million, or a loss of $0.15 per share, compared with net income of $2.3 million and $0.04 per share in the fourth quarter of 2012. The loss included a pre-tax structuring charge of $2.9 million for severance payments and closure of the Pioneer location.

The company expects 2014 revenues of $245 million to $250 million and net income between -$0.01 and $0.01 per share.

In addition to the Pioneer acquisition, 2013 highlights included the groundbreaking of a 42,000-square-foot facility in Alachua, an agreement with the Yankee Alliance group purchasing organization, a clean facility inspection from the Food and Drug Administration, FDA clearance of the Fortiva porcine dermis implant, new product launches and more than 5 million implants with no infection incidents.

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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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