Tornier N.V. (TRNX) Misses Q2 EPS by 5c

Tornier N.V. (NASDAQ: TRNX) reported Q2 EPS of ($0.19), $0.05 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $83.2 million versus the consensus estimate of $85.16 million.

Dave Mowry, President and Chief Executive Officer of Tornier, commented, "Our second quarter performance highlights the strong momentum in our upper extremities business, driven by our innovative product portfolio and clinically superior sales team. The Aequalis Ascend™ Flex shoulder system delivered another quarter of above-market growth and we made good progress in our commercial preparations for the recently FDA cleared Simpliciti™ shoulder system. This includes working with key opinion leaders and developing Centers of Excellence for Simpliciti, laying the foundation for the next leg of growth in our upper extremities business as we enter 2016."

Mr. Mowry continued, "As expected, our lower extremities business experienced distractions related to our pending merger with Wright Medical Group, Inc. However, we have been able to retain a high quality sales team and believe we have a very attractive combination of products and people to drive long-term growth for the future combined business. We are confident that the pending merger with Wright will leverage the strengths of both companies to create the premier high growth extremities and biologics company. Subject to FTC clearance, we expect the merger to close in the third quarter and are enthusiastic about the growth and profitability prospects for the combined organization."

For earnings history and earnings-related data on Tornier N.V. (TRNX) click here.

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