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.
For more Front Street News, click here...