RTI Surgical (RTIX) Reports In-Line Q1 EPS, Beats on Revenues; Affirms FY18 Guidance

RTI Surgical (NASDAQ: RTIX) reported Q1 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $69.9 million versus the consensus estimate of $68.73 million.

Highlights:

• First Quarter 2018 revenue of $69.9 million
• First quarter EBITDA of $2.7 million and Adjusted EBITDA of $7.8 million
• Completed acquisition of Zyga Technology, a leading spine-focused medical device company

Fiscal 2018 Outlook

Based on our recent financial results and current business outlook, the Company is reiterating financial guidance for 2018, originally issued on January 5, 2018:

• The Company expects full year revenues in the range of $280 million and $290 million.
• The Company expects full year Adjusted EBITDA to be in the range of $32 million to $38 million.

Farhat explained, “As we continue to reduce the complexity of our operations, we remain committed to evaluating our portfolio and exploring partnership opportunities with organizations that are well positioned to be better stewards of selected assets. Our efforts to drive operational excellence focus on implementing lean manufacturing across facilities, as we continue to strengthen the organization and invest in the company. With our senior team in place and now operating efficiently, I am shifting more of my energy towards accelerating growth, by starting to rebuild the R&D pipeline and actively seeking attractive M&A opportunities at logical valuations.”

GUIDANCE:

RTI Surgical sees FY2018 revenue of $280-290 million, versus the consensus of $283.35 million.

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

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