RTI Surgical (RTIX) Tops Q3 EPS by 3c, Revenues Beat; Offers FY18 Revenue Outlook Below Consensus

RTI Surgical (NASDAQ: RTIX) reported Q3 EPS of $0.04, $0.03 better than the analyst estimate of $0.01. Revenue for the quarter came in at $69.1 million versus the consensus estimate of $68.64 million.

• Revenue increased 4% to $69.1 million
• Net income of $2.9 million, inclusive of $0.9 million of net non-recurring income
• Adjusted EBITDA of $9.1 million, or 13% of revenue
• Company narrows fiscal 2018 outlook ranges

“The strength of our third quarter results underscores the substantial ongoing progress we are making across our strategic transformation and the growing momentum throughout the company,” stated Camille Farhat, President and CEO. “Our spine franchise produced excellent results aided by growth in recently introduced products, and our OEM franchise continued its strong performance. Our operational excellence initiatives are taking hold throughout the organization, helping to further reduce costs and instill a culture of continuous improvement. Overall, with our seventh consecutive quarter of meeting or exceeding our commitments, our team is executing effectively on many fronts and we have increased our focus on accelerating growth with investments in both organic and inorganic activities.”

GUIDANCE:

RTI Surgical sees FY2018 revenue of $280 million, versus the consensus of $283.5 million.

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

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