ALACHUA, Fla., Feb 12, 2015 — RTI Surgical Inc. (RTI) a global surgical implant company, reported operating results for the fourth quarter and full year of 2014 as follows:Achieved full year revenues of $262.8 million, exceeding revenue guidance of $260 to $261 million.Achieved above market growth in the spine, sports medicine, BGS and general orthopedic, and orthofixation businesses.Received approval to CE mark Fortiva™ Porcine Dermis and began distribution throughout Europe in March 2014.Announced the first human implantation of the map3® Cellular Allogeneic Bone Graft Strips Allograft in June 2014.Launched more than twenty new products, implants and line extensions.
Fourth Quarter 2014
Worldwide revenues were $70.9 million for the fourth quarter of 2014 compared to revenues of $60.5 million for the fourth quarter of 2013. Domestic revenues were $65.4 million for the fourth quarter of 2014 compared to revenues of $54.4 million for the fourth quarter of 2013. International revenues were $5.4 million for the fourth quarter of 2014 compared to revenues of $6.1 million for the fourth quarter of 2013. On a constant currency basis, international revenues for the fourth quarter of 2013 decreased 4 percent compared to the fourth quarter of 2013.
“Revenues for the quarter exceeded our expectations and we were very pleased to see growth in almost every area of our business,” said Brian K. Hutchison, president and chief executive officer. “Throughout 2014 we indicated that our goals were to see growth in our sports and spine businesses, gain traction in our direct surgical specialties business and expand distribution of our map3 cellular allogeneic bone graft. I’m pleased to report that we achieved each of these goals.”
Full Year 2014
Worldwide revenues were $262.8 million for the full year of 2014 compared to revenues of $198 million for the full year 2013. Domestic revenues were $238.9 million for the full year of 2014 compared to revenues of $177.2 million for the full year 2013. International revenues were $23.9 million for the full year of 2014 compared to $20.8 million for the full year 2013. On a constant currency basis, international revenues for the full year 2014 increased 15 percent compared to the full year 2013. Our prior year worldwide revenues for the full year 2013 include $36 million from the Pioneer acquisition for the period of July 16, 2013 to December 31, 2013, whereas our current year period includes a full year of Pioneer-related revenues. If the acquisition were effective January 1 for both 2013 and 2014, worldwide revenues would have increased by 8 percent.
About RTI Surgical Inc.
RTI Surgical is a leading global surgical implant company providing surgeons with safe biologic, metal and synthetic implants. Committed to advancing science, safety and innovation, RTI’s implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures and are distributed in nearly 50 countries. RTI is headquartered in Alachua, Fla., and has four manufacturing facilities throughout the U.S. and Europe. RTI is accredited in the U.S. by the American Association of Tissue Banks and is a member of Advamed. For more information, please visit www.rtix.com.