ALACHUA, Fla. (AP) — Orthopedic implant maker RTI Biologics Inc. said Wednesday its profit jumped 60 percent in the first quarter, assisted by revenue from Tutogen Medical, a biological implant maker the company bought a year ago.
RTI said it earned $1 million, up from $645,000 a year earlier. Because the company has more shares on the market than it did last year, its per-share profit was unchanged at 2 cents. Revenue increased 29 percent to $38.6 million from $29.9 million.
Thomson Reuters says analysts were expecting a profit of 2 cents per share on $37.6 million in revenue.
RTI said surgical specialty fees tripled to $4.8 million from $1.6 million, while revenue from its spinal business grew to $9.8 million from $8.7 million and sports medicine revenue edged up to $9.4 million from $9.2 million. Dental revenue more than doubled, reaching $7.3 million from $3.5 million.
