Xtant Medical Holdings (XTNT) Pre-Announces Record Q3 Revenues of $23-$23.3M
- Dow, S&P hit highs; Trump comment hammers drug stocks
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Xtant Medical Holdings, Inc. (NYSE: XTNT) pre-announced that its record Third Quarter 2016 revenue is expected to be in the range of $23.0 million to $23.3 million, a 10.0%-11.5% increase compared to pro forma third quarter of 2015 revenue and a 7.2%-8.6% sequential increase compared to the second quarter of 2016.
|($000's)||Q3 2016||Q2 2016||Q3 2015*|
|Low||High||Actual Results||Pro Forma Results|
*Pro Forma Results
*Use of Pro Forma Financial Information
On July 31, 2015, Bacterin International Holdings, Inc. acquired all of the issued and outstanding stock of X-Spine Systems, Inc. and the combined company was renamed Xtant Medical Holdings, Inc. Except for the financial results for the three months ended June 30, 2016, the results presented are on a pro forma basis as if the two companies were combined for the periods shown. Certain pro forma adjustments have been made to reflect the impact of the purchase transaction, primarily consisting of amortization of intangible assets with determinable lives and interest expense on long-term debt. In addition, certain historical expenses, such as warrant expense and interest expense associated with debt that was immediately repaid, were eliminated from these pro forma results. The pro forma information does not necessarily reflect the actual results of operations had the acquisition been consummated at the beginning of the fiscal reporting period indicated nor is it indicative of future operating results. The pro forma information does not include any adjustment for potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisition.
Additional information regarding the business combination and its impact on the Company’s financial position will be set forth in the Company’s Form 10-Q for the quarter ended September 30, 2016, which will be filed with the Securities and Exchange Commission November, 2016 and will include the Company’s audited consolidated financial statements as of and for the quarters ended September 30, 2016 and September 30, 2015.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Corvex Management Cuts Signet Jewelers (SIG) Stake in Half
- Vera Bradley (VRA) Tops Q3 EPS by 1c; Offers Light Q4 Outlook; Enters New Licensing Agreements
- People Corporation Announces Security Based Compensation Grants
Create E-mail Alert Related CategoriesGuidance
Related EntitiesDividend, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!