AUSTIN, Texas, Feb, 2014 (GLOBE NEWSWIRE via COMTEX) — LDR Holding Corporation, a global medical device company focused on designing and commercializing novel and proprietary surgical technologies for the treatment of patients suffering from spine disorders, reported its financial results for the fourth quarter and year ended December 31, 2013.
Christophe Lavigne, President and Chief Executive Officer of LDR Holding, commented, “We are pleased with our strong performance, especially the robust sales growth in our exclusive technology products. We are gratified by the strong interest among spine surgeons in education and training sessions for Mobi-C, the first and only cervical disc replacement device to receive FDA approval to treat both one-level and two-level cervical disc disease. In the sales area, the availability of Mobi-C and its superiority claim has been quite attractive to independent sales agencies which otherwise do not have access to cervical disc replacement devices. Mobi-C is clearly helping us to win over spine practices as new accounts to LDR.”
Gross profit for the fourth quarter of 2013 was $26.6 million and gross margin was 83.2%, compared to a gross profit of $20.9 million and a gross margin of 83.7% for the fourth quarter of 2012.
On a geographic basis, for the fourth quarter of 2013, LDR’s revenue in the United States increased 37.3% to $24.9 million, compared to $18.1 million in the fourth quarter of 2012, and represented 77.7% of total revenue. LDR’s international revenue increased 3.8% for the fourth of quarter 2013 to $7.1 million, representing 22.3% of total revenue.