RTI Surgical (RTIX) Posts Q2 Loss of 5c/Share; Will Conduct Strategic Business Review

RTI Surgical (NASDAQ: RTIX) reported Q2 EPS of ($0.05), $0.08 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $67.6 million versus the consensus estimate of $66.52 million.

Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), as detailed in the reconciliation provided later in this release, was $6.4 million for the second quarter of 2016 (10 percent of second quarter 2016 revenues) compared to $10.8 million for the second quarter of 2015 (15 percent of second quarter 2015 revenues). The decline was principally a result of lower revenues combined with increased investments in research and development and the development of our international sales network.

Strategic Business Review

The company also announced today that its management and board of directors are launching a comprehensive strategic review of the company’s business lines and operations to leverage the company’s leading expertise, technology and products and identify additional opportunities to increase stockholder value. The company intends to engage a management consulting firm to assist with this review.

For earnings history and earnings-related data on RTI Surgical (RTIX) click here.

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