News Column

Bacterin Announces Preliminary Fourth Quarter 2013 Revenue

February 10, 2014

By a News Reporter-Staff News Editor at Biotech Business Week -- Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, announced preliminary unaudited revenue for the fourth quarter 2014 (see also Bacterin International Holdings, Inc. ). The company is expecting total net revenues for the fourth quarter of 2013 to be in the range of $8.15 million to $8.28 million , representing a sequential increase of approximately 4% over the third quarter 2013, and an increase of 1.5% when compared to $8.1 million for the fourth quarter 2012. The company is anticipating Biologics revenue to be in the range of $8.02 million to $8.07 million for the quarter, a 5.0% increase over the third quarter 2013, and 4.5% increase year-over-year. "The return to sequential and year-over-year revenue growth demonstrates that our transitional strategies are working," says Bacterin CEO, Dan Goldberger . "While we still have a ways to go to realize the market share that our products are capable of, we expect that the addition of experienced sales executives with proven track records in underperforming territories will accelerate our sales growth in the second half of 2014. As we continue to integrate the newer members of our team, our sales force will have the training and support to return Bacterin's growth to levels consistent with the value of our product line." Since CEO Dan Goldberger was hired during the third quarter, 2013, the company has reorganized its sales force to emphasize experienced leadership, accountability, and pay for performance. Bacterin's hybrid field sales organization now totals 36 full time employees and about 170 distributors. Nine of the 36 employees have joined the organization since September 2013 . The sales function is structured to effectively support existing customers and efficiently address new growth opportunities. The Company will continue to add resources in underperforming geographies in the first half of 2014. The quarterly financial results included in this release are prior to the completion of review and audit procedures by Bacterin's external auditors and are therefore subject to adjustment. Bacterin expects to provide fourth quarter and full year 2013 financial results during its fourth quarter 2013 earnings call in March 2014 . About Bacterin International Holdings Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin's proprietary methods optimize the growth factors in human allografts to promote bone growth, subchondral repair and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries. Keywords for this news article include: Surgery, Bone Research , Investment and Finance, Bacterin International Holdings Inc. . Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Biotech Business Week


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