Osteotech's new devices lifted 4Q sales 7 percent

(AP) — Osteotech Inc. said Thursday its revenue grew about 7 percent in the fourth quarter, aided by sales of recently launched bone graft and fusion products.

The bone graft and stabilization products maker said it expects $26.3 million in revenue in the fourth quarter, up from $24.6 million a year ago. The results include $1 million in revenue from new products that are limited launch, and $3.3 million in license revenue from tissue processing technologies.

In afternoon trading, shares of Osteotech climbed 37 cents, or 11.4 percent, to $3.61. The stock has ranged from $1.90 to $5.04 over the last year.

Osteotech said it recorded about $400,000 in revenue from its MagniFuse spinal graft products, which reached the market in October, and $200,000 from its FacetLinx fusion system, which was launched in the third quarter.

The company said it expects $96.7 million in revenue for the full year 2009, or $93.4 million excluding the license revenue. It previously expected $92 million to $94 million.

Osteotech also said it finished the year with about $10.7 million in cash, above the range of $9 million to $10 million it had expected.

Osteotech plans to release complete full-year results in February.