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.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
