MiMedx Group, Inc. Reports Preliminary Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reiterates Earnings Guidance for the First Quarter and Full Year of 2018
January 08, 2018 at 12:00 am IST
Share
MiMedx Group, Inc. reported preliminary revenue results for the fourth quarter and full year ended December 31, 2017. For the fourth quarter, the company recorded record revenue of $90.9 million, a $21.0 million or 30% increase over 2016 fourth quarter revenue of $69.9 million.
For the year, the company recorded revenue of $324.5 million, a $79.5 million or 32% increase over 2016 revenue of $245.0 million.
The company reiterated earnings guidance for the first quarter and full year of 2018. For the quarter, the company revenue forecasted to be in the range of $90.5 million to $92.0 million.
For the full year 2018, the company's revenue estimated between $383 million to $387 million, gross profit margins expected to be in the range of 89% to 90%, operating income expected to be in the range of 15% to 17%, GAAP diluted EPS projected to be in the range of $0.30 to $0.35 and adjusted diluted EPS projected to be in the range of $0.45 to $0.50.
MiMedx Group, Inc. is a placental biologics company. The Company is engaged in developing and distributing placental tissue allografts with patent-protected, processes for multiple sectors of healthcare. Its product portfolio categories include Wound Care Products, and Surgical and Other Products. Its Wound Care Products include EPIFIX, EPICORD and EPIEFFECT, which are all marketed for external use, such as in advanced wound care applications. Its Surgical and Other product offering includes AMNIOFIX, AMNIOCORD and AMNIOEFFECT, which are positioned for use in a variety of applications and surgical settings, including lower extremity repair, plastic surgery, vascular surgery and multiple orthopedic repairs and reconstructions. The Company's platform technologies include tissue allografts derived from the human placental membrane, tissue allografts derived from the human umbilical cord, and a particulate extracellular matrix derived from the human placental disc.
MiMedx Group, Inc. Reports Preliminary Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reiterates Earnings Guidance for the First Quarter and Full Year of 2018