Wright Medical Group (WMGI) Misses Q3 EPS by 9c, Offer Outlook

Wright Medical Group (NASDAQ: WMGI) reported Q3 EPS of ($0.51), $0.09 worse than the analyst estimate of ($0.42). Revenue for the quarter came in at $80.14 million versus the consensus estimate of $78.25 million.

Outlook

The company today provided its pro forma full-year 2015 guidance for Wright Medical Group N.V., which includes anticipated financial results for both the legacy Wright and Tornier businesses giving effect to the merger as if it had occurred on the first day of each fiscal year. This combined guidance includes the impact of conforming the combined company’s fiscal calendars; the full-year impact of the divestiture of certain Tornier lower extremities products to Integra LifeSciences; and anticipated revenue dis-synergies and cost synergies related to the merger for 2015. As a result of conforming the combined company’s fiscal calendars, the legacy Wright business will have four fewer selling days in the fourth quarter of 2015.

The company anticipates pro forma net sales for 2015 of approximately $636 million to $642 million.

The company anticipates 2015 pro forma adjusted EBITDA from continuing operations, as described in the GAAP to non-GAAP reconciliation provided later in this release, of negative $(13.0) million to negative $(17.0) million.

For earnings history and earnings-related data on Wright Medical Group (WMGI) click here.

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