RTI Surgical (RTIX) Tops Q4 EPS by 2c

RTI Surgical (NASDAQ: RTIX) reported Q4 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $71.3 million versus the consensus estimate of $67.23 million.

The company also outlined new actions focused on improving execution and returning the company to profitable growth.

RTI’s board and management team have pivoted the company toward growth areas, such as opportunities in the direct business that are beginning to yield early results. The company also initiated a restructuring program that is expected to achieve cost savings and position RTI’s operating platform to capitalize on future growth opportunities. As announced in January, the Board appointed Camille Farhat, an experienced executive and growth-focused leader with proven expertise in revitalizing and growing global health care businesses, to Chief Executive Officer. Mr. Farhat will assume the position on March 15, 2017.

“In a few short weeks, we will welcome Camille Farhat as our new Chief Executive Officer,” said Curtis M. Selquist, Chairman of RTI’s Board of Directors. “Camille’s initial focus will be to lead a 90-day effort focused on assessing and developing a plan to return RTI to profitable and sustainable growth. This will include identifying additional opportunities to reduce the company’s cost structure and improve cash flow, refocusing the company’s culture around accountability and execution, and redirecting its resources to attractive markets that we believe offer the greatest opportunities for growth. Over the course of 2017, the company is committed to driving cost efficiencies, focused innovation and profitable growth, and we will measure and report progress in all areas accordingly.”

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

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