(www.proactiveinvestors.com). According to Proactive Investors.com, Medtech firm K2M Group found the market hard to please as it released fourth quarter results.The company said it expects underlying adjusted earnings (EBITDA) for the whole of 2015 will be within the range of previously stipulated guidance. Full-year revenue is tipped to be between US$216.0mln and US$216.3mln, up some 16% year-on-year, or 17% on a constant currency basis.Fourth quarter revenue clocked in at around US$54.1mln to US$54.4mln, up 10/11% year-on-year.Domestic sales rose around 10% from a year earlier to somewhere between US$39 while international revenue was up about 11% year-on-year, or 14% on a constant currency basis.
“Our preliminary financial results for the full year of 2015 reflect total revenue growth of approximately 17% year-over-year on a constant currency basis, fueled by our strong complex spine portfolio,” said president and chief executive officer, Eric Major.
Complex spine growth was around 12%, while minimally invasive spine growth was in the region of 20%.
“2015 was a significant year of innovation in complex spine. Over the past year, we released the MESA 2 Deformity Spinal System, EVEREST Deformity Spinal System, the NILE Alternative Fixation System, and the CAPRI Corpectomy Cage System. We expect these spine products – as well as our recently launched CASCADIA Interbody Systems – to fuel the continued strong top-line growth expected for our company in fiscal year 2016,” Major added.
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