Orthofix International (NASDAQ: OFIX) reported Q4 EPS of $0.51, $0.07 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $121.5 million versus the consensus estimate of $122.99 million.

Fourth Quarter Highlights

• Net sales of $121.5 million, an increase of 0.3% compared to prior year period and 0.9% on a constant currency basis
• Kevin Kenny, an experienced spine executive, joins as Global Spine President
• FDA approval of next generation Bone Growth Therapy patient monitoring app STIM onTrack 2.1

“I joined Orthofix because I saw a significant opportunity. The last few months spent with this talented team and our external stakeholders has me even more excited about the future of this Company,” said Jon Serbousek, President and Chief Executive Officer. “We have well defined market and technology leadership positions in bone growth stimulation, cellular based allografts, extremity deformity correction, and artificial disc replacement. This combined with the solid infrastructure we have in place gives us the platform to scale in all of our businesses. We are already executing on our recently developed Strategic Plan, which we believe will accelerate our growth and maximize shareholder value.”

Serbousek further commented, “During the fourth quarter, revenue from the M6 cervical disc in the U.S. outpaced our expectations, which highlights the significant opportunity we have with this technology. While some of our other product categories experienced some headwinds due to continued distraction, we believe we are putting the pieces in place to reposition Orthofix for accelerating topline growth.”

GUIDANCE:

Orthofix International sees Q1 2020 EPS of $0.09-$0.12, versus the consensus of $0.32. Orthofix International sees Q1 2020 revenue of $106-109 million, versus the consensus of $113.27 million.

Orthofix International sees FY2020 EPS of $1.00-$1.10, versus the consensus of $1.70. Orthofix International sees FY2020 revenue of $467-477 million, versus the consensus of $486.65 million.

For earnings history and earnings-related data on Orthofix International (OFIX) click here.