RTI Biologics, a provider of orthopedic and other biologic implants, reported third quarter revenues of $41.8 million, a 2 percent decrease from last year's third quarter report of 42.8 million, according to a company news release.
Brian K. Hutchinson, CEO of RTI Biologics, cited the weak economy as the reason for the decrease, although he said the third quarter results "met expectations" regarding the company's direct businesses. The company's sports medicine business achieved the greatest improvement, experiencing a 20 percent growth when compared with the third quarter of 2009.
Domestic revenues were reported as $37.6 million for the third quarter, which is a 1 percent increase over the third quarter of 2009 results. The international revenues were reported as $4.2 million, a 23 percent decrease from last year, attributable to currency change fluctuations and weakness in international markets.
During the third quarter, RTI Biologics signed a distribution agreement with Zimmer Dental, an exclusive access agreement with Athersys for the Multipotent Adult Progenitor Cell technologies and a distribution agreement with SeaSpine for spinal implants.
Read the release on RTI Biologics 3Q FY 2010 financial report.
Read other coverage on RTI Biologics:
- RTI Pays $3M for Athersys Orthopedic Implant Technology
- RTI Biologics Develops Reimbursement Hotline for Sports Medicine
- RTI Biologics Named Stryker's Dean Bergy to Board of Directors
Brian K. Hutchinson, CEO of RTI Biologics, cited the weak economy as the reason for the decrease, although he said the third quarter results "met expectations" regarding the company's direct businesses. The company's sports medicine business achieved the greatest improvement, experiencing a 20 percent growth when compared with the third quarter of 2009.
Domestic revenues were reported as $37.6 million for the third quarter, which is a 1 percent increase over the third quarter of 2009 results. The international revenues were reported as $4.2 million, a 23 percent decrease from last year, attributable to currency change fluctuations and weakness in international markets.
During the third quarter, RTI Biologics signed a distribution agreement with Zimmer Dental, an exclusive access agreement with Athersys for the Multipotent Adult Progenitor Cell technologies and a distribution agreement with SeaSpine for spinal implants.
Read the release on RTI Biologics 3Q FY 2010 financial report.
Read other coverage on RTI Biologics:
- RTI Pays $3M for Athersys Orthopedic Implant Technology
- RTI Biologics Develops Reimbursement Hotline for Sports Medicine
- RTI Biologics Named Stryker's Dean Bergy to Board of Directors