Alphatec Spine Announces Third Quarter 2009 Revenue and Financial Results

Share this story with your network

Record Revenue of $32.7 Million; 9th Consecutive Quarter of Record Revenue; Adjusted EBITDA Increases to $3.6 Million

CARLSBAD, Calif., Nov 9, 2009 (GlobeNewswire via COMTEX News Network) — Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions affecting to the aging spine, announced today financial results for the third quarter ended September 30, 2009.

Third Quarter 2009 Results:

* Record consolidated revenue of $32.7 million reported in the
third quarter 2009, which represents 27% growth over the third
quarter 2008

— U.S. revenue growth of 21% over prior year third quarter and
year-over-year growth of 28% for the last nine months

— International revenue of $6.6 million, which represents 52%
growth over the third quarter 2008

* Year-to-date revenue of $95.6 million, representing an increase
of 31% over the same period 2008

* Adjusted EBITDA of $3.6 million in the third quarter 2009 and
$7.8 million for year-to-date nine months, reflecting
strengthening operating leverage

— 31% increase over second quarter 2009 adjusted EBITDA of
$2.8 million

— $9.7 million increase over prior year-to-date nine months
adjusted EBITDA of negative ($1.9) million

* Reiterating 2009 revenue guidance of $128 million to
$130 million and adjusted 2009 EBITDA guidance of $12.5 million
to $14.5 million

Third Quarter 2009 Highlights:

* U.S. market launch of the Illico SE percutaneous MIS system

* OsseoScrew submitted to the FDA for 510K approval

* OsseoFix patient enrollment initiated for U.S. clinical study

* Settlement of Brodke et al. litigation matter

* Year-to-date over 300 patients treated in Europe with OsseoFix

* Year-to-date over 150 surgeons trained in Europe with OsseoFix

Leave a Comment

Your email address will not be published. Required fields are marked *

*